> Just because a market is not perfect, doesn't mean it provides no benefit. Imperfect markets that permit slave labor provide a clear benefit to the slave hol

> Just because a market is not perfect, doesn't mean it provides no benefit. Imperfect markets that permit slave labor provide a clear benefit to the slave holders. No real benefits for the slaves--they're worse off. 1st & 2nd theorems of welfare economics say markets in equilibrium are Pareto optimal: In every transaction, at least one party does better, but nobody does worse. Since slaves are clearly worse off, we know there's no general equilibrium in such an imperfect market.