Compression
Read the source text. Write one sentence that captures the core idea. Then see the schema’s irreducible version — every word load-bearing.
Irreducible clarity — say one difficult thing precisely.
20 cards available · random order
Compression···Cross-paperEconomic EthicsDistributive JusticeMarket Failures
Markets are efficient allocation mechanisms but they are not justice mechanisms. A market outcome can be Pareto optimal — in the sense that no one can be made better off without making someone else worse off — while still being deeply unequal. The ethical question that markets cannot answer is: Pareto optimal compared to which initial distribution? Every market outcome is the product of background institutions that distribute property rights, enforce contracts, and define the rules of exchange.
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