Economic theory and social justice
AbstractIs justice individualistic or both individualistic andsocial? Opposite views on this question include von Hayek, who said that `social justice' was an oxymoron, and the late Holy Father who, in Sollicitudo Rei Socialis said that some socio-economic institutions can have`structures of sin' in their architectures. The Old Testament prophets have been interpreted either way! Using results from the Capital Controversy in economic theory, Sen's work on famines, and the Parsonian theory of the institution, we show that the `social'-justice dimension of an individual act is where its justice is unintelligible in merely individualistic terms, but requires institutional analysis.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 1243.
Date of creation: 12 Oct 2006
Date of revision:
Social justice; economic justice; microfoundations of macroeconomics; Capital controversy;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
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- Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 82(325), pages 101-15, March.
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