handicapped babies as well as children in the foster home in general. Due to the current restrictions placed on the market, adoption agencies have a monopoly on the baby market but do not have the capability to charge at market clearing prices nor differentiate clients. In fact, adoption agencies are actually dissuaded from doing so thru inability to offer increased compensation to mothers as well as forced baby accepting (can’t reject any babies that come in). As a result of the long queues for babies and their general shortage, many independent and black market adoption agencies sprung up. Independent are legal, however many of them charge way more than their booking fees and still don’t provide enough compensation to the necessary group. However black markets are entirely illegal, and represent a huge deadweight loss in societal benefits. Instead, the price of free babies the free market would be much cheaper than that of the black market and allow for both the glut to be removed as well as general welfare increase within the community. The existence of this market would allow for legal contracts of adoption (to allow for promise of quality), background screening of parents such that parent’s couldn’t be criminals, and further genetic selection. Overall, its less about the baby’s welfare that we are striving to maximize and more of the general communities around it. Unfortunately, most of the parties who would support this cause are nonvocal, which includes mother’s needing to put their child up for adoption as well as the babies themselves. Parties who are against the idea of a free market, like adoption agencies themselves, are vocal and would disagree with this cause. Terminology: Independent adoptions: Adoptions made without the use of an adoption agency. Oftentimes will involve other middlemen to set prospective parents up with mothers, find doctors, etc. Are smaller than would be expected due to the extra costs necessary to organize one. Why Some Things Should Not Be For Sale Author- Debra Satz, Stanford philosophy professor 1. Introduction 1. Markets are important forms of social and economic organization 1. Cooperate in a system of voluntary exchange 2. Mutually adjust their activities 3. Most efficient way we have to produce and distribute 4. Extending to new domains-- environmental pollution
2. Concerns of markets 1. Organs 2. Reproductive services 3. Blood diamonds 4. Sex 5. Weapons 6. Life-saving medicines 7. Addictive drugs 8. Credit derivatives All considered noxious markets 2. Child labor 1. Some economists say banning it was a mistake 1. Some families rely on the labor of their children for survival 2. Many maintain keep young children from working is a moral requirement 3. Human kidneys 1. Currently illegal in every developed society 2. Ban is inefficient because without it more would be supplied and lives would be saved 4. Overall
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