We live in a time when almost everything can be bought and sold. Over the past few years, markets and market values have come to govern our lives as never before. Today the logic of buying and selling no longer applies to material good alone but increasingly governs the whole of life. However, there is a wide spread realization that markets have become detached from morals and we need to somehow reconnect them. The use of markets to allocate social goods has also been a cause of concern. In this context, answer the following: 20 (a) Is greed wholly a vice or a trait of character that has both positive and negative sides? Could you relate it to the utilitarian philosophy that emphasizes pursuit of self interest by individuals as the basis of economic well being? (b) Are there some things that money shouldn't buy? Illustrate with examples.

→ welfare Vs profit → competition Vs distributive justice. → economy Vs greater good (large public interest).

In a world of consumerism, where globalisation has fused economies, goods, products, brands, market have largely acquired supreme significance.

✓ Emergence of apps like Zomato, Swiggy, Ola, Uber, enables one to purchase food and travel services on tails of demand.

✓ Rise of giants like Walmart, Alibaba, the emergence of MNC's across globe, trade and service liberalisation all hints at rise of market. This coupled with ICT, online e-commerce, the emphasis on customer satisfaction

Inspite of the market revolution, there are inherent contradiction and limitation.

• Return to use of jute bags, banning of plastic hints at implication on climate change, health hazard.
• Rise of indigenous product sale like Khadi, organic farming, shift to consumption of coarse cereals.

Similarly at broad social level, the rights of 92% unorganised sector in India, massive agricultural sector, ideals of TPDS, right to work, education, health insurance, food security, nutrition security - all of these requires moral yardstick of social welfare / public redistribution.

• Money cannot buy all what comes under broad framework of larger 'good' for marginalized, vulnerable, socio-economically deprived section.
• Money should not buy the ethical basis of 'SERVICE', for as Vivekananda

rightly pointed 'service to god is service to mankind'

• Money shouldn't buy one morality of nation ✓ Need of restraint in using nuclear warheads ✓ waging wars on account of nuclear, space, scientific, technological supremacy. → At individual level and community level, money shouldn't buy one values, core principle of humanity, honesty, larger good over self-interest, moral integrity in general. Role of greed as a vice (or) a trait? On the basis of reason & rationality, ideals of utilitarian philosophy advocates 'greater good for greater number'. The utility debate must take into account

NEED verse GREED debate (as suggested by Mahatma Gandhi).

• Greed for social development, larger cause is beneficial in long run.
• for example, at cost of poverty and malnutrition, Indian government allocates significant portion of GDP in space technology. This might benefit the poor and backward people in long run.
• Similarly, scientific discovery, the filing of PIL for public interest.

However care must be taken that it should exercise ethical virtue of

• moral verification
• self-restraint
• checks & balance to evaluate greater good
• avoid narrow, vested, sectional, petty interest by all means.