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I feel like you’re using the word “fair” in an econ 101 sense, not in the way most people use it. “The market reached equilibrium” with child labor and indentu
by drewrv 4y ago
I feel like you’re using the word “fair” in an econ 101 sense, not in the way most people use it.
“The market reached equilibrium” with child labor and indentured servitude. Most people consider child labor unfair, so law/culture/customs changed how the market operates.
Even within the narrow definition of “fairness” in economics you still have externalities. This can become really tricky and require ethical considerations beyond a “pure math” problem.
- dvt 4y ago> Most people consider child labor unfair No, they consider child labor, slavery, indentured servitude, etc. unjust. You could easily come up with a thought experiment where every child (prince or pauper) has to partake in forced labor. This would be fair, but it would still be unjust.