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

Match each economic scenario with the primary criterion—fairness or efficiency—that is most relevant for its evaluation.

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