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Gerechtigkeit und Marktwirtschaft – das Problem der Arbeitslosigkeit

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  • Malte Faber
  • Thomas Petersen

Abstract

This article offers a conceptual framework for analysing involuntary unemployment using the concepts of justice and income distribution within a market economy. Conventionally, it is argued that involuntary unemployment causes a deadweight loss in social welfare, because it involves the under‐use of a productive resource. We explore this efficiency argument with a public choice approach, employing the notion of homo oeconomicus. We contrast this with a perspective using the concept of homo politicus, which stresses social justice. We apply our findings to the special case of German social reform, especially Hartz IV, and show that some of its policy recommendations are in accordance with our analysis.

Suggested Citation

  • Malte Faber & Thomas Petersen, 2008. "Gerechtigkeit und Marktwirtschaft – das Problem der Arbeitslosigkeit," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 9(4), pages 405-423, November.
    • Handle: RePEc:bla:perwir:v:9:y:2008:i:4:p:405-423
    DOI: 10.1111/j.1468-2516.2008.00286.x
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    References listed on IDEAS

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    1. Ernst Fehr & Klaus M. Schmidt, 1999. "A Theory of Fairness, Competition, and Cooperation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(3), pages 817-868.
    2. Falk, Armin & Fischbacher, Urs, 2006. "A theory of reciprocity," Games and Economic Behavior, Elsevier, vol. 54(2), pages 293-315, February.
    3. Malte Faber & Reiner Manstetten & Thomas Petersen, 1997. "Homo Oeconomicus and Homo Politicus. Political Economy, Constitutional Interest and Ecological Interest," Kyklos, Wiley Blackwell, vol. 50(4), pages 457-483, November.
    4. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
    5. Faber, Malte & Manstetten, Reiner & Petersen, Thomas, 1997. "Homo Oeconomicus and Homo Politicus, Political Economy, Constitutional Interest and Ecological Interest," Kyklos, Wiley Blackwell, vol. 50(4), pages 457-483.
    6. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753.
    7. Stefan Baumgärtner & Malte Faber & Johannes Schiller, 2006. "Joint Production and Responsibility in Ecological Economics," Books, Edward Elgar Publishing, number 2598.
    8. Faber, Malte & Frank, Karin & Klauer, Bernd & Manstetten, Reiner & Schiller, Johannes & Wissel, Christian, 2005. "On the foundation of a general theory of stocks," Ecological Economics, Elsevier, vol. 55(2), pages 155-172, November.
    9. Faber, Malte & Petersen, Thomas & Schiller, Johannes, 2002. "Homo oeconomicus and homo politicus in Ecological Economics," Ecological Economics, Elsevier, vol. 40(3), pages 323-333, March.
    10. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, vol. 83(5), pages 1281-1302, December.
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    Cited by:

    1. Becker, Christian & Ewringmann, Dieter & Faber, Malte & Petersen, Thomas & Zahrnt, Angelika, 2012. "Endangering the natural basis of life is unjust. On the status and future of the sustainability discourse," Working Papers 0527, University of Heidelberg, Department of Economics.
    2. Stefanie Glotzbach, 2011. "On the notion of ecological justice," Working Paper Series in Economics 204, University of Lüneburg, Institute of Economics.

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