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Investment, Saving, and Envy
Journal article   Open access   Peer reviewed

Investment, Saving, and Envy

Young Back Choi and Victor V. Claar
The journal of markets & morality, Vol.28(3)
09-08-2026

Abstract

Beginning with a critical review of Hayek’s “atavism of social justice” thesis, this paper suggests an alternative explanation of the widespread and increasing demands for social justice in contemporary society. While Choi (1993a) explores the nature of entrepreneurship and its tendency to incite envy, we focus here on the likelihood of saving and investment activities in a market economy to incite envy. Our analysis reinforces Choi’s earlier understanding of the persistent hostility against commerce and the market system, adding to a systematic exploration of the factors that make the demand for social justice stronger or weaker.
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