Definitions for economic justice
eco·nom·ic jus·tice

WikipediaRate this definition:0.0 / 0 votes

1. Economic justice

   Justice in economics is a subcategory of welfare economics with models frequently representing the ethical-social requirements of a given theory, whether "in the large", as of a just social order, or "in the small", as in the equity of "how institutions distribute specific benefits and burdens". That theory may or may not elicit acceptance. In the Journal of Economic Literature classification codes 'justice' is scrolled to at JEL: D63, wedged on the same line between 'Equity' and 'Inequality' along with 'Other Normative Criteria and Measurement'. Categories above and below the line are Externalities and Altruism.Some ideas about justice and ethics overlap with the origins of economic thought, often as to distributive justice and sometimes as to Marxian analysis. The subject is a topic of normative economics and philosophy and economics. In early welfare economics, where mentioned, 'justice' was little distinguished from maximization of all individual utility functions or a social welfare function. As to the latter, Paul Samuelson (1947), expanding on work of Abram Bergson, represents a social welfare function in general terms as any ethical belief system required to order any (hypothetically feasible) social states for the entire society as "better than", "worse than", or "indifferent to" each other. Kenneth Arrow (1963) showed a difficulty of trying to extend a social welfare function consistently across different hypothetical ordinal utility functions even apart from justice. Utility maximization survives, even with the rise of ordinal-utility/Pareto theory, as an ethical basis for economic-policy judgments in the wealth-maximization criterion invoked in law and economics.Amartya Sen (1970), Kenneth Arrow (1983), Serge-Christophe Kolm (1969, 1996, 2000), and others have considered ways in which utilitarianism as an approach to justice is constrained or challenged by independent claims of equality in the distribution of primary goods, liberty, entitlements, opportunity, exclusion of antisocial preferences, possible capabilities, and fairness as non-envy plus Pareto efficiency. Alternate approaches have treated combining concern for the worst off with economic efficiency, the notion of personal responsibility and (de)merits of leveling individual benefits downward, claims of intergenerational justice, and other non-welfarist/Pareto approaches. Justice is a subarea of social choice theory, for example as to extended sympathy, and more generally in the work of Arrow, Sen, and others.A broad reinterpretation of justice from the perspective of game theory, social contract theory, and evolutionary naturalism is found in works of Ken Binmore (1994, 1998, 2004) and others. Arguments on fairness as an aspect of justice have been invoked to explain a wide range of behavioral and theoretical applications,supplementing earlier emphasis on economic efficiency (Konow, 2003).

How to pronounce economic justice?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say economic justice in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of economic justice in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of economic justice in Pythagorean Numerology is: 2

Examples of economic justice in a Sentence

1. Chris Hughes:

   The idea is to provide a foundation, a floor on which people can build, as a moral issue, a matter of economic justice, we should create a floor in the US. The vast majority of people participating are having a hard time making ends meet. The point is to help the people who need it most.

2. Bernie Sanders:

   If on Super Tuesday we can bring out working people, and young people, people who have given up on the political process, people of all shades who believe in economic justice, social justice, racial justice, environmental justice -- if we can create a large voter turnout -- we're going to win Democratic primary a week from Super Tuesday.

3. Scott Applewhite:

   There’s a lot to be working for in economic justice, in racial equity, in establishing a $15 minimum wage and holding corporations accountable for the basic treatment of the American people. We need to look at our entire tax system, beginning with Build Back Better.

4. Josh Earnest:

   This is a president who has been animated even before he started running for public office by the idea that we need to fight for social and economic justice both in this country and around the world, this has been a hallmark of Pope Francis even before he arrived in the Vatican.

5. Hillary Clinton:

   The work that each and every one of your organizations do is in furtherance of civil rights and economic justice and social justice and political participation, i am grateful for what you all have done for so many years.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Economic_Justice