一個efficient 的market ,係唔係一定係fair

Efficiency is an economics term. It has nothing to do with social justice.

Before your question can be answered, you have to define what you mean by being fair. Does being fair mean every one getting the same quantity of goods or does it mean every one getting the quantity in proportion to his/her effort, ability, talent, etc.

Efficiency in economics is a state in which you cannot make one person better off without making another person worse off. In other words, in a state of efficiency you cannot rearrange the resources in a better way.

If being fair means every one gets what as is determined by his market value, then efficiency is fair. But it is also a totaulogy because it is the same as saying efficiency is the same as fairness.

I give you an example. Superman Lee has thousands of billions of dollars because he owns capital. Capital produces wealth. That is fair because this is how the market operates. This is also not fair because Superman Lee has monopolistic or oligopolistic power and so the market is not perfect. Someone works 12 hours a day and can hardly make ends meet. This is not fair socially but market dictates that his skills can only earn so much.

So what can you say about fairness? Nothing because fairness is not the realm of economics.