Market Participation, Self-respect, and Risk Tolerance

Abstract How important is the experience of risk in business endeavors for self-respect and moral development? Tomasi prompts this question with his attempt to reconcile Rawls’s theory justice as fairness free-market capitalism, by claiming that economic activity a way people exercise their autonomy, responsibility, self-authorship, including through voluntary risk-taking. Critics argue social environment generated market institutions ill-suited developing sense responsibility autonomy among citizens. We refine case liberty looking at link between risk-taking attitudes toward democratic citizenship. highlight critical role ethical practice contributor stability liberal-democratic societies.