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Politicians and pundits often use the word “fair” to describe policies they favor. But what does “fair” really mean?

Chapman University experimental economist Bart Wilson argues that fairness should not be construed as equality of outcome, but as a process in which everyone plays by the rules and honors agreements. When lawmakers obscure the definition of this word, it may result in policy that is ineffective, arbitrary, and fundamentally unfair. Reason.tv: Experimental Economist Bart Wilson on the Meaning of "Fair" -