Explain why voluntary, market-based economic theory places property rights over worker rights and describe how worker rights are protected in this system.
What will be an ideal response?
Voluntary, market-based economic theory places property rights over worker rights because basic economic theory shows that competitive markets and well-defined property rights are optimal for achieving efficiency. Worker rights are protected by allowing workers to exercise their ability to quit jobs they do not like, thus exerting pressure on employers to offer more acceptable terms and conditions of employment.
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