The Just Price as the Price Obtainable in an Open Market
24 Pages Posted: 25 Jun 2014 Last revised: 28 Aug 2015
Date Written: 2014
This paper examines and criticizes the main conceptions of justice in pricing which have been put forward recently and argues that the price obtainable in an open market is the best standard for determining the justice or injustice of the price of a product or service. The paper argues that this standard, which is closely related to positions that have been held for hundreds of years, is not subject to the fundamental criticisms which can be addressed to other standards of justice in pricing. The paper also shows how this standard in grounded in more fundamental principles of justice such as desert and equality.
Keywords: Just price, fair price, equality, open market standard
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