Abstract
There are free market ideologues who believe that opening markets always create new opportunities for welfare improvement, and egalitarians who are suspicious of all markets in which the participants have unequal endowments. Debra Satz, in this cogent book, argues for a more complex approach in which not all markets are the same, and some are more problematic than others. In her theory, there are four aspects of a market that can, independently or jointly, make it “noxious”: first, some marke...
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