"This the Precious Legacy that John Maynard Keynes Left to Us." 

    Today, many countries have highly debted in too heavy to burden due to dmechanically copy Keynesiandeficit fiscal approach, without corretly understanding the essence of Keynesian thought.

    However, it is not that all countries politicians are so dogmatic, German politicians are very rational, they have been flexibly handling of the economy. For this issue, I have discussed in the Feb. 16, 2014article Why German Economy Can Fly Against Economic Recession?

     Talks to here, we may easily understand that If professor Michael Sandel  ruled the world>, he would rewrite the economics textbooks to actually promote a big step toward a better civic life.

    I deeply believed that professor Michael Sandel will certainly be able to change the world toward a better future.

    The world really needs a change as the will of the professor Michael Sandel.

    The article <Author and Harvard Professor Michael Sandel discusses “What Money Can’t Buy”> provides a photo of the Professor Michael Sandel as follow.

Michael Sandel

Anne T. and Robert M. Bass Professor of Government

Monday October 15, 2012 7:30 PM at Temple Isaiah

By Jeri Zeder| 

http://colonialtimesmagazine.com/author-and-harvard-professor-michael-sandel-discusses-what-money-cant-buy/

We hire private contractors to fight our wars. We pay children to incentivize them to read books or to get good grades. If we have the means, we can pay our way out of standing in long lines at the airport or amusement park. We give away naming rights of public schools and sports arenas to corporations. Some of our corporations purchase “dead peasants insurance” on the lives of their employees, not for the benefit of their employees’ families, but for themselves.

These are just a few examples of the ways in which markets and market values have infiltrated areas of our lives where different values once held sway. Is this trend good? Is it ethical? Should markets, which above all else value efficiency and maximizing utility, be limited to particular segments of society so that they do not overtake other human values?

Michael Sandel, a professor of government at Harvard University, explores these questions in his new book, What Money Can’t Buy: The Moral Limits of Markets (Farrar, Straus & Giroux 2012). His fantastically popular course, Justice, was a nationally televised series on PBS, and became the first Harvard course to be made available free online (http://www.justiceharvard.org/). The course has been translated into many languages and viewed by millions of people around the world.

Sandel will be discussing What Money Can’t Buy in Lexington in October at Temple Isaiah in a forum moderated by Lawrence S. Bacow, president emeritus of Tufts University. He recently spoke with Colonial Times Magazine.

Colonial Times Magazine: What will you be speaking about when you come to Lexington?

Michael Sandel: The central question of the book and of the lecture is, what should be the role of money and markets in our society? Over the past three decades, we’ve witnessed a quiet revolution. Markets and market thinking have been reaching into spheres of life previously governed by other values, from family life and personal relations to health, education, and civic life. Where do markets serve the public good, and where do they not belong? Where might they crowd out or undermine moral and civic values worth caring about? The lecture will include interactive components. I will try to engage the audience in a lively discussion of some of these questions, which, after all, involve big questions about the role of ethics in public life.

CTM: In your book, you talk about the “skyboxification” of American life. What is that?

MS: When I was a kid growing up in Minneapolis, I was a big Minnesota Twins fan. At the baseball stadium, the difference in the ticket prices between the best box seat and the cheapest seat in the bleachers was two-and-a-half dollars: three-fifty for a box seat, and a dollar to sit in the bleachers. The effect was that, when you went to a baseball game, you could find the CEO and the mailroom clerk sitting side-by-side, more or less. When it rained, everyone got wet. It was a democratizing experience, everyone rooting for the home team under roughly similar conditions. Over the past three decades, this has changed. Most stadiums now have skyboxes where the affluent and the privileged can isolate themselves from the common folk in the seats below. This is a metaphor, I think, to what’s happened in our society as a whole in recent decades. I call it the “skyboxification” of American life.

CTM: Why do you see that as a problem?

MS: As money and markets dominate more and more domains of life, we find that the affluent and people of modest means lead increasingly separate lives. There are fewer and fewer public places and occasions where people from different walks of life, from different social and economic backgrounds, encounter one another and share in-common experiences, and this is, I think, damaging to democracy, corrosive of the commonality on which democratic life depends. I think it’s connected to the growing tendency of money and markets to dominate, not only in the sphere of material goods, but in most every sphere of life.

CTM: Besides democratic values, what other values do you think are becoming displaced by money and markets?

MS: My book discusses many examples, but let me give just one more here. In many school districts around the country, they are experimenting with paying students a financial reward to get good grades, or even to read books. This is one of the topics that I plan to pose to the audience. Is the use of a cash incentive to try to motivate academic achievement a good idea, or is it objectionable? And if it is objectionable, why, exactly? This is an example of another kind of value—the love of learning for its own sake—that is arguably crowded out or eroded where monetary incentives come to substitute for intrinsic motivation.

CTM: Your course, Justice, is a runaway hit at Harvard and has been viewed online by millions. China Newsweek named you the most influential foreign figure of the year. To what do you attribute the popularity of Justice?

MS: I think that there’s a great hunger among students around the world and also among citizens generally to engage in serious discussion about big ethical questions in public, to reason together in public about questions such as justice, rights, the common good, and what it means to be a citizen. Too often, public discourse doesn’t really address big questions. I think this is a source of frustration for a great many citizens, and rightly so, not only in this country, but around the world. I think this is the reason for the astonishing response to the online Justice course. It is a reflection of this hunger for public discussion of big, sometimes controversial ethical questions that really matter to people.

This interview was conducted, edited, and condensed by Jeri Zeder.

Building on the success of his legendary 'Justice' course at Harvard, Michael Sandel’s influence as the world’s ‘most relevant living philosopher’ is rapidly expanding worldwide.  On stage and in writing, he deploys a unique and charismatic gift for empowering public participation in acute social and moral questions, such as: Should we financially reward children for good marks? Is it ethical to pay people to donate organs? Should a banker be paid more than a nurse? Should Universities give preference to poor applicants? What about hiring mercenaries to fight our wars, outsourcing inmates to for-profit prisons or selling citizenship?  With the hardback publication in 2012 of What Money Can’t Buy, Sandel argued that market values have come to define our lives in ways that aren’t good for democracy or the quality of public or private life, and are in danger of corrupting the value we place on things such as children, the environment, and citizenship. From London to South Korea, hundreds, often thousands, flock to hear him speak and politicians are listening. In a period of rapid global cultural and economic change, now more than ever we require the highest quality of public interrogation and debate.

Michael Sandel is in a position to change the way we think.

Michael J Sandel is the Anne T and Robert M Bass Professor of Government at Harvard University. His legendary 'Justice' course is the first Harvard course made freely available online (www.JusticeHarvard.org) and on television and has attracted millions of viewers. His work has been translated into 21 languages and been the subject of television series in the U.K., the U.S., Japan, South Korea, Sweden, and the Middle East. He has delivered the Tanner Lectures at Oxford and been a visiting professor at the Sorbonne, Paris. In 2010, China Newsweek named him the "most influential foreign figure of the year". In Seoul, Korea, 14,000 people filled an outdoor stadium to hear him speak. Sandel was the 2009 BBC Reith Lecturer, and his recent book Justice was an international bestseller.  In April 2012 he presented a three-part BBC Radio 4 series ‘The Public Philosopher’.

This talk will be followed by a book signing.

* * * * * * * * * * * * * * * *

Praise for Michael Sandel

“…a wake-up call to recognise our desperate need to rediscover some intelligible way of talking about humanity” - Rowan Williams 
"Michael Sandel...is currently the most effective communicator of ideas in English." - Guardian Editorial, 23 May 2012 
"the most famous teacher of philosophy in the world," has "shown that it is possible to take philosophy into the public square without insulting the public’s intelligence." The New Republic, May 18 2012 
“Brilliant, easily readable and often funny ... an indispensable book" - David Aaronovitch 
“ … patient and so accumulative in its argument and its examples… marks a permanent shift in these debates' - John Lanchester 
“Sandel's is the indispensable voice of reason” - John Gray 
“ … genius” - FT

What Money Can’t Buy: The Moral Limits of Markets
MICHAEL J. SANDEL
The Tanner Lectures on Human Values
Delivered at Brasenose College, Oxford
May 11 and 12, 1998
Michael J. Sandel is professor of government at Harvard University, where he has taught political philosophy in the Faculty of Arts and Sciences since 1980. He was educated at Brandeis University and received his Ph.D. from Balliol College, Oxford University, where he was a Rhodes Scholar. He is a member of the National  Constitution Center Advisory Panel, the Rhodes Scholarship Committee of Selection, the Shalom Hartman Institute of Jewish Philosophy, and the Council on Foreign Relations. He has received fellowships from the Ford Foundation, the American
Council of Learned Societies, and the National Endowment for the Humanities. He is the author, most recently, of Democracy’s Discontent: America in Search of a Public Philosophy (1996), as well as Liberalism and Its Critics (1984) and Liberalism and the Limits of Justice (1982).
LECTURE I.

COMMODIFICATION, COMMERCIALIZATION, AND PRIVATIZATION
1. Tipping the Tutor
It is a great honor and pleasure to be back at Oxford to give these lectures. It takes me back to the time when I ?rst arrived here as a graduate student twenty-two years ago. There was a welcoming dinner for new students at Balliol. The Master at the time was Christopher Hill, the renowned Marxist historian. In his welcoming remarks he recalled his early days at Oxford as a young tutor, and he told us of his dutiful, but somewhat patronizing, upperclass students, one of whom left him a ?ve-pound tip at the end of term.
Hill’s point, I think, was that times had changed. We were not supposed to tip our tutors. Not that the thought had ever occurred to me before he mentioned it. But it does raise an interesting question: Why not? What is wrong with tipping the tutor? Nothing perhaps, if the tutor is an economist. After all, according to many economists, and also non-economists in the grip of economic ways of thinking, money is always a good way of allocating goods, or, I suppose, of expressing thanks.

I assume that Christopher Hill disapproved of the tip because he viewed the monetary payment as an indignity, as a failure to regard teaching with the proper respect. But not everybody views money and teaching in this way. Adam Smith, for one, did not. He saw nothing wrong with compensating university teachers according to market principles. Smith thought that teachers should be paid according to the number of students their classes attracted. For colleges and universities to pay teachers a ?xed [89] salary, Smith wrote, is a recipe for laziness, especially where colleges and universities are self-governing. Under such conditions the members of the college are likely “to be all very indulgent to
one another, and every man to consent that his neighbor may neglect his duty, provided he himself is allowed to neglect his own.”
Where do you suppose Smith found the clearest example of the sloth induced by ?xed salaries? “In the University of Oxford, the greater part of the . . . professors have, for these many years, given up altogether even the pretence of teaching.”
These two different views of money and teaching, Christopher Hill’s and Adam Smith’s, bring me to the question these lectures seek to address: Are there some things that money can’t buy? My answer: sadly, fewer and fewer. Today, markets and market-like practices are extending their reach in almost every sphere of life.
Consider books. It used to be that the books in the window of the bookshop, or on the display table at the front of the store, were there because someone in the store—the manager or buyer or proprietor— considered these books to be of special interest or importance to prospective readers. Today, that is less and less the case.
Publishers now pay bookstores, especially the big chain bookstores, tens of thousands of dollars for placement of their books in windows or other prominent places. I don’t know whether this is yet the case with Blackwell’s. I pray not.
But in many U.S. bookstores, the books you see up front, even the books that are turned face out on the shelves, are titles that the publisher has paid the store to display. It has long been the case that makers of pretzels, potato chips, and breakfast cereals have paid grocery store chains for favorable shelf space. Now, thanks 90 The Tanner Lectures on Human Values 1 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (1776),book 5, ch. 1, pt. 3 (New York: Modern Library, 1994), p. 821. 2 Ibid. partly to the rise of powerful  superstores like Barnes and Noble, books are sold like breakfast cereal.3 Is there anything wrong with this? Suppose, under the traditional system, you go into a bookstore and look around for a book you have written, something that authors have been known to do.
And you ?nd your cherished work on some obscure lower shelf at the back of the store. Imagine that you bribe the owner of the store to put it in the window. If it is a bribe when you make this arrangement, is it any less a bribe when  Random House does it to boost sales of really important authors, like O. J. Simpson or Newt Gingrich? 
Consider a second example—prisons. Once the province of government, the incarceration of criminals is now a pro?table and rapidly growing business. Since the mid-1980s, more and more governments have entrusted their inmates to the care of for-pro?t companies. In the United States, the private prison business is
now a billion-dollar industry. Twenty-seven states and the federal government have contracted with private companies like the Corrections Corporation of America to house their prisoners. In the mid-eighties when the trend began, scarcely a thousand prisoners occupied private prisons. Today, more than 85,000 U.S. inmates are serving time in for-pro?t prisons. And the trend has spread to Britain, Australia, New Zealand, Canada, France, the Netherlands, and South Africa.
Or consider a third example, the growing trend toward branding, marketing, and commercial advertising in spheres that once stood aloof from market practices. Once, “rebranding” was a device employed by companies that needed to change the image of a tired product line. Today, we hear of efforts by the Blair government to [Sandel] What Money Can’t Buy 913 Mary B. W. Tabor, “In Bookstore Chains, Display Space Is for Sale,” New York Times, January 15, 1996, p. A1.
4 Nzong Xiong, “Private Prisons: A Question of Savings,” New York Times, July 13, 1997.

“rebrand” Britain as “one of the world’s pioneers rather than one of its museums.” As the American media has reported, “Rule Britannia” is giving way to “Cool Britannia,” the new slogan of the British Travel Authority.
The rebranding of Britain is not an isolated episode, but a sign of the times.6 Last year the U.S. Postal Service issued a stamp of Bugs Bunny, a cartoon character. Critics complained that stamps should honor historic ? gures, not commercial products. But the post of?ce is facing stiff competition from e-mail, fax machines, and Federal Express. So it now sees licensing rights as key to its future.
Every Bugs Bunny stamp that is bought for the love of it, rather than used to mail an envelope, earns thirty-two cents pro?t for the post of?ce. And stamp collecting is the least of it. The licensing deal with Warner Brothers enables the Postal Service to market Looney Tunes ties, hats, videos, and other products at its ?ve hundred postal stores across the country. Canada has also encountered the licensing craze. In 1995, the Royal Canadian Mounted Police sold to Disney the right to market the Mountie image worldwide. Disney paid Canada’s federal
police $2.5 million per year in marketing rights, plus a share of the licensing fees for Mountie T-shirts, coffee mugs, teddy bears, maple syrup, diaper bags, and other merchandise. Many Canadians objected. They claimed the Mounties were selling out a sacred national symbol to a U.S. corporate giant. “It’s not the price that rankles. It’s the sale,” complained an editorial in Toronto’s Globe and Mail. “The Mounted Police have miscalculated on a crucial point. Pride.”892 The Tanner Lectures on Human Values.