A Theory of Just Market Exchange
Any plausibly just market exchange must balance two conflicting moral considerations: non-worseness (Wertheimer, 1999) and euvoluntariness (true voluntariness; Munger, 2011). We propose an analytical theory of just market exchange that partly resolves this conflict.
Non-worseness implies that all voluntary and mutually beneficial exchanges are morally permissible. The reason is that it cannot be immoral for two negotiators to benefit one another by exchanging, if each has the right to not exchange, and is therefore not obligated to provide a benefit to the other negotiator.
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