Unfair Division of Found Money

A company has an unexpectedly profitable year and its board must decide how to allocate a $1 million surplus. The board is considering four different plans. Which of the following plans is most clearly guided by a judgment about the fairness of the outcome, rather than by other economic considerations?

Negotiating with a Sole Employer

An economic outcome is considered fair if it is impossible to make one person better off without making another person worse off.

Two Criteria for Judgment

Evaluating a National Production Strategy

Perspectives on Fairness in Public Funding

When evaluating an economic allocation, economists consider not only whether the outcome is efficient but also its ______, which is a judgment based on a particular conception of justice.

An economist is tasked with evaluating the overall desirability of a new public policy that changes how a city's resources are distributed. Arrange the following steps in the logical order an economist would follow to conduct a comprehensive evaluation.

Allocating Community Garden Plots