Making the unequal global economic structure more just: Going beyond welfare economics, utilitarianism and Rawlsian ethical theories
Purpose – The purpose of this paper is to develop principles through which the global economic structure could become more equal and just; it begins by demonstrating that world poverty is pervasive, and that the global economic structure is very unequal. Design/methodology/approach – The paper utilizes conceptual/theoretical arguments in welfare economics, utilitarianism, Sen's capability approach, and Rawlsian theories of justice to argue that none of those theories can lead to a more equal global economic structure. Thus, the development of more egalitarian principles is needed. Findings – Arguing that the principles that Rawls developed in his 1999 The Law of Peoples are more egalitarian than the other theories, the paper still finds them less than adequate. However, the principles developed in the paper can lead the world toward a more just and much more egalitarian economic structure. Originality/value – Since the principles developed in the paper are more egalitarian, helping toward ending world poverty and extreme inequality, the paper and its findings constitute an original and a valuable contribution.
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Volume (Year): 26 (2010)
Issue (Month): 3 (May)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Timothy Taylor, 2008. "Recommendations for Further Reading," Journal of Economic Perspectives, American Economic Association, vol. 22(4), pages 217-24, Fall.
- Timothy Taylor, 2008. "Recommendations for Further Reading," Journal of Economic Perspectives, American Economic Association, vol. 22(2), pages 235-242, Spring.
- Timothy Taylor, 2008. "Recommendations for Further Reading," Journal of Economic Perspectives, American Economic Association, vol. 22(3), pages 223-30, Summer.
- Timothy Taylor, 2008. "Recommendations for Further Reading," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 235-242, Winter.
- Lerner, Abba P, 1972. "The Economics and Politics of Consumer Sovereignty," American Economic Review, American Economic Association, vol. 62(2), pages 258-66, May.
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