En el libro Moral markets se considera que los mercados son morales en dos sentidos:
The research reported in this book revealed that most economic exchange, whether with a stranger or a known individual, relies on character values such as honesty, trust, reliability, and fairness. Such values, we argue, arise in the normal course of human interactions, without overt enforcement—lawyers, judges or the police are present in a paucity of economic transactions (...). Markets are moral in two senses. Moral behavior is necessary for exchange in moderately regulated markets, for example, to reduce cheating without exorbitant transactions costs. In addition, market exchange itself can lead to an understanding of fair-play that can build social capital in nonmarket settings.