Moral trade is definitely relevant here. Moral trade basically deals with cases with fundamental-differences-in-values (as opposed to coordination issues from differences in available information etc.).
I haven’t thought about this super carefully, but it seems like a nice property of impact markets is that they’ll manage to simultaneously manage the moral trade issues and the coordination issues. Like in the example of donors wishing to play donor-of-last-resort it’s ambiguous whether this desire is driven by irreconcilably different values or different empirical judgements about what’s good.
Moral trade is definitely relevant here. Moral trade basically deals with cases with fundamental-differences-in-values (as opposed to coordination issues from differences in available information etc.).
I haven’t thought about this super carefully, but it seems like a nice property of impact markets is that they’ll manage to simultaneously manage the moral trade issues and the coordination issues. Like in the example of donors wishing to play donor-of-last-resort it’s ambiguous whether this desire is driven by irreconcilably different values or different empirical judgements about what’s good.