Why a free-market wage is a "fair wage"

Philosophy Professor Stephen Kershnar explains how prices work:

As a general rule, free market wages are the height of fairness. A free-market wage is the wage that a person gets in a competitive sector of the economy. Generally, this reflects the degree to a worker contributes to lives of other people. This is because a worker’s salary reflects the degree to which others value his goods or services and the degree to which others value his goods and services reflects the degree to which these things make their lives go better. As Walter Williams has pointed out, such a system in effect rewards persons on the basis of what they’ve done for their fellow man. . . .