Journal of Economic Psychology 11 (1990) 633-634 North-Holland

633

BOOK REVIEW

N. Craig Smith, Morality & The Market. Routledge, London & New York, 1990, pp. ix + 351, 240.00.

This book is concerned with ‘ethical’ purchasing behaviour and ,its influence on corporate accountability. The volume is in two parts: the first part places the debate in its economic and political context; the second part presents case studies of consumer boycotts including the Californian grape boycott and objections to Barclays Bank’s invest- ments in South Africa.

The first chapter outlines the notion of the consumer sovereignty and individualism common in mainstream economics. Consumer sovereignty is then compared to marketing strategies and collectivism dominant within the marketing discipline. The question is posed: if consumer sovereignty is a reality why has the organization of ‘consum- erism’ and the ‘consumer movement’ been necessary? Smith argues that there are degrees of consumer authority. These issues inform the next two chapters dealing with the social control of business and the proper role of government. An example is presented of the motor car manufac- turer Chevrolet’s previous failure to fit safety glass even though their competitors did: an instance where the ‘free market’ may not provide the ‘best’ and most desirable outcome. Of course the idea of ‘social responsibility’ is an anathema to the likes of Milton Friedman as it evidently shows ‘a fundamental misconception of the character and nature of the free economy’.

Of the remaining three chapters in this section of the book chapter five deals with the types of non-violent direct action that consumers can take; chapter six the role of pressure groups in the marketing system; chapter four offers a typology of pressure groups.

Part two comprises an historical review of consumer boycotts, the case studies themselves, followed by a review of their effectiveness. Boycotts rarely have a simple and direct effect: it seems that firms sometimes respond to boycotts because of publicity or the popular

0167-4870/91/$03.50 0 1991 - Elsevier Science Publishers B.V. (North-Holland)

634 Book review

morality of the argument rather than for purely economic reasons. Smith’s contribution is well argued and readable throughout and

although more space could have been given to the case studies, this is a book worth reading.

Alan Lewis Centre for Economic Psychology

Social Science University of Bath

Bath BA2 7AY UK