Economists can prove, if we grant them enough assumptions, that free-market buying
and selling lead to optimal results. One of those assumptions is that everyone has full
and complete information, on the basis of which they then buy and sell.
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Property ownership involves a generally complex bundle of rights and rules governing
how, under what circumstances, and in what ways both the owner and others can use,
possess, dispose of, and have access to the thing in question.
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Strict liability is the same thing as absolute liability.
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When advertisers conceal facts, they suppress information that is unfavorable to their
products.
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Some critics believe that “competition is not a good” because trying to do well and
trying to beat others are two different things.
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Capital is that money that is invested for the purpose of making more money.
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When most people fire another employee, they do it with great joy.
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From the beginning, unions have been driven by an attempt to protect workers from
abuses of power at the hands of employers.
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Any equitable solution to the problem of who should pay the bill for environmental
cleanup should take into account responsibility as well as benefit.
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Libertarians would find it immoral and unjust to coerce people to give food or money to
the starving.
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Before the case of MacPherson v. Buick Motor Car in 1916, injured consumers could
only recover damages from the retailer of the defective product.
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Most people don’t distinguish between a person’s “morals” and his or her “ethics.”
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“Etiquette” designates a special realm of morality.
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Job performance and the fairness of the work contract are relevant to the issue of fair
wages.
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One problem that OSHA will have to address in the future is the increasing number of
musculoskeletal disorders.
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