Buying your way out of waiting your turn – Markets in everything – internalizing expenses due to misconduct as the cost of doing business


http://feedproxy.google.com/~r/Urbanomics/~3/99AUQBumm4k/markets-in-everything-internalizing.html

Such trends are not confined to high-finance and business, but pervasive in modern-day lives. Old-fashioned virtues of equality (of people standing in a que to access a service) have given way to opportunity-cost driven conventions (rich people pay to access the service out of turn). The implications of this gradual shift have been far-reaching and is surely a major contributor to the widespread widening of inequality across societies. It is obvious that there is a slippery slope associated with these trends. Traditional mores slowly get replaced with market-based morality, with all its attendant consequences.

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