Distributive justice relates to the principle of fairness in the allocation of wealth, income, power and opportunities. Many theoretical … 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 created by the self-interest of those involved, and grounded in the notion that … See more

John Rawls conceived the notion of 'The Original Position' based upon the thought experiment whereby participants must agree to a hypothetical social contract under a See more

The Libertarian philosophy refers to freedom, and particularly individual liberty which dictates the right and ability to govern one's self. … See more

Karl Marx in The Communist Manifesto postulated that the era of feudal aristocracy and the capitalism experienced in 1847 at the time of its writing, would be replaced with … See more

Meritocracy is an ideology founded in the works of Confucius, whereby the allocation of rewards, positions and responsibilities is objective and upon … See more

Redistribution of wealth is attained through many forms such as taxation, monetary policies, welfare and nationalisation of private enterprise. … See more