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Why Some Things Should Not Be for SaleThe Moral Limits of Markets$
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Debra Satz

Print publication date: 2010

Print ISBN-13: 9780195311594

Published to Oxford Scholarship Online: September 2010

DOI: 10.1093/acprof:oso/9780195311594.001.0001

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Voluntary Slavery and the Limits of the Market

Voluntary Slavery and the Limits of the Market

Chapter:
(p.171) 8 Voluntary Slavery and the Limits of the Market
Source:
Why Some Things Should Not Be for Sale
Author(s):

Debra Satz (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195311594.003.0008

This chapter examines the ways that two different frameworks with different underlying normative assumptions view the phenomenon of bonded labor: libertarian laissez faire theory and Paretian welfare economics. Libertarians believe that consensual agreements between competent adults should be respected. Paretians endorse exchanges that leave both parties better off in terms of their preferences. Each theory gives us reasons for endorsing many if not most instances of the practice of bonded labor, reasons that are intuitively plausible. But each theory also ignores or dismisses other considerations–such as those raised in earlier chapters‐‐that might lead us to view these very same instances of labor bondage more critically.

Keywords:   bonded labor, credit markets, libertarianism, Paretianism, externality, endogeneity, human bondage

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