Prof. Michael Munger explains that fairness requires that exchanges are voluntary. But what about market exchanges that aren't voluntary? And what if there is great inequality in bargaining power? Are markets fair then? These are questions that are often raised when people examine markets and their effects. Prof. Munger offers thoughts for discussion. Dr. Michael Munger is a Professor of Political Science at Duke University, and Director of the PPE Certificate Program.

This video is part of a series exploring foundational topics in economics, including the market process, market failure, and market fairness. It is also part of a larger series on foundational topics in Philosophy, Politics, and Economics (PPE) courses. Videos in the series feature six professors who teach in university PPE programs.

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