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Justice and the market is an ethical perspective based upon the allocation of scarce resources within a society. The allocation of resources depends upon governmental policies and the societal attitudes of the individuals who exist within the society. Personal perspectives are based upon ones circle of … See more
Distributive justice relates to the principle of fairness in the allocation of wealth, income, power and opportunities. Many theoretical paradigms have been developed to approach distributive justice such as Adam Smith's See more
Karl Marx in The Communist Manifesto postulated that the era of feudal aristocracy and the capitalism experienced in 1847 at the time … See more
The Libertarian philosophy refers to freedom, and particularly individual liberty which dictates the right and ability to govern one's self. In an economic sense the libertarian view … See more
Adam Smith's idea of the invisible hand was a founding contribution to explain resource allocation within a society. The invisible hand metaphor portrayed an aggregated market … See more
John Rawls conceived the notion of 'The Original Position' based upon the thought experiment whereby participants must agree to a … See more
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