If I see someone lying unconcious in the street, then I will call an ambulance have them brought to a hospital to be treated. The patient is legally and morally required to pay the hospital. (If the hospital charges them a ridiculous amount - much more than the fair market value of voluntarily procured services - then the person may refuse to pay and a court may find the hospital in error.)
Likewise, if I have a child, which is of too low intelligence to understand its situation, then I can invest in it an upbringing and education even though it isn’t currently capable of entering contracts. In exchange, the child is automatically entered into a contract and I have a right to extract a fair market value from the child’s future labor.
I don’t think this is immoral since, in both cases, a person who is incapacitated is being helped. Also, I think in a lot of poor countries people living on farms intentionally have children to extract labor from them. In a lot of cultures (not so much USA), children will feel indebted to their progenitors and will take care of them in their old age. So I am basically making explicit a common human tradition.
And if there is something immoral about it, would it help to modify the child’s contract? For example, what if they receive a specialized education in physics, but only had to pay back the debt if they actually became a physicist? Or is this whole idea totally immoral? Would you resent having been placed in such a situation?
There are a lot of positive things that could come from the scenario of indebted children. For example, I could pay talented people (scientists, basketball players, whatever) to produce a child for me. Then, I could invest wholly, or in some part, in the child’s upbringing, education, or training. If my entrepeneurial calculations are correct, and the child’s expected talents reap a high reward in a future market, then I will be able to generate profit. At the same time, the child’s future could be much brighter than otherwise. I will be much more attentive to the child’s needs if I have a stake in its future.
If enough entrepeneurs do this then we will have free market forces directly affecting the production of people. We’ve already turned wolves into everything from poodles to St. Bernards. Specialized breeds of people, directed by market forces, could be the next step in our evolution.