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Part of the prestigious Themes in Economics series, this collection of papers discusses critical issues that have often been at the centre of social debates in recent years. Economists and philosophers discuss such issues as the limitations of markets as an instrument of decision-making in a society, globalization and culture, the foundational principles for public policy, the criteria for the allocation of human organs, and the paradox of scarcity despite affluence in modern societies. Two papers study the implication of globalization for culture and the nature of culture itself. The rest of the papers analyse a wide range of other problems including the foundational principles for the formulation of public policy, the criteria for allocating human organs among patients who need them, and the way in which modernity has generated scarcity even as advanced technology has led to unprecedented affluence. The papers combine analytical rigour and readability. While they are always thoug ht provoking and often incisive, they do not demand from the reader much prior knowledge of either economics or philosophy. With contributions from eminent academicians such as Richard Arneson, Ravi Kanbur, Paul Seabright, and Steve Marglin, the book will be very useful for post graduate students of economic thought and courses exploring the interface of economics and philosophy researchers and teachers in these areas professional economists, philosophers and serious general readers interested in social issues.