INTEGRATIVE SOCIAL CONTRACTS THEORY: ETHICAL IMPLICATIONS OF MARKETING CREDIT CARDS TO U.S. COLLEGE STUDENTS

The absorption of the cultural sphere into the commercial sphere signals fundamental change in human relationships with troubling consequences for the future of society. From the beginning of civilization to now, culture has always preceded markets. People create communities, construct elaborate codes of social conduct, reproduce shared meanings and values, and build social trust in the form of social capitaL Only when social trust and social exchange are well developed do communities engage in commerce and trade.... When the commercial sphere begins lo devour the cultural sphere. . . it threatens to destroy the very social foundations that give rise to commercial relations. ʹ