It is page 243 of my colleague Virgil Storr and Ginny Cho’s best book of 2019. Do markets corrupt our morals? (References and footnotes omitted)
People in market societies are wealthier, healthier, happier, and better off than those in non-market societies. Markets are positively correlated with economic growth. Measures of social capital are also higher in market societies than in non-market societies. Furthermore, the benefits of marketing are not limited to the most advantaged in these communities. Market societies have higher social mobility and lower income inequality than non-market societies. Other studies have shown that people in market societies have higher subjective well-being and quality of life when measured by literacy and life expectancy. Limiting market access and limiting market size can therefore be (materially and socially) costly.
