What is the idea of fairness based on fair rules?
What will be an ideal response?
The fair rules idea of fairness is that of providing equality of opportunity is necessary for the allocation of resources to be "fair." This is the economic application of the symmetry principle, that people in similar situations be treated similarly. Equality of opportunity can be achieved if two rules are obeyed:
• The government must enforce laws that establish and protect rights to private property that are held by individuals in society, and
• Private property may be transferred from one person to another only by voluntary exchange and without fraudulent representation.
Economics