Rawls’ idea of justice as fairness, which he presented in his book, “A Theory of Justice,” emphasizes the importance of equal opportunities and equal distribution of wealth and resources in society. This idea resonates with me because, as someone who values fairness and equality, I believe that everyone should have the same chance to succeed and live a fulfilling life. Rawls’ work has taught me to be more aware of societal inequalities and to work towards creating a fairer and more just
Regulation includes keeping an eye on the market and the investor firms while at the same time monitor and put into order other possible profit seeking movements made by firms. These regulations are classified into 3 according to the article. These are setting a criteria in determining price, providing a specified quality of output and placing restrictions into entry and exit from the market. Change in market structure from monopoly to oligopoly is brought about by a growth in demand of that product. The conversion from monopoly to into a competitive structure is due to 3 possible reasons.
In our society, people are either born rich and powerful, having the rights and opportunities that those who are born into lower-class would not have. So why should we live in a government system where we allow these inequities to happen? In Justice, Michael J. Sandel discusses John Rawls’ arguments over defining a just society. Rawls believes that “we should reject the contention that the ordering of institution is always defective because the distribution of natural talents and the contingencies of social circumstance are unjust, and this injustice must inevitably carry over to human arrangements. Occasionally this reflection is offered as an excuse for ignoring injustice, as if refusal to acquiesce in injustice is on par with being unable to accept death.
Harvard political philosopher Michael J. Sandel, in his book Justice, refers to the “pain of sympathy” felt by many “tenderhearted souls” when they are faced with poverty, on the streets and elsewhere, and how they wish that there was something being done to stop it (35-36). He also speaks about the reaction of “hardhearted folk” who feel “the pain of disgust” upon seeing homelessness in their own communities and have no sense of pity for them (Sandel 36). In pondering human welfare, it is easiest to solve widespread problems by thinking of overall, hypothetical solutions. The issue of poverty in America (in many cases) comes from the socioeconomic class system that traps people in the class from which their parents came. A just society does everything it can to level the metaphorical scales that create this trap so that its people’s accomplishments and welfare reflect their talent and effort in the field.
Contrastingly, Rawls views democracy as the only way a state can realise justice. Citizens all need a say in how they live their lives and this improves their political lives in the state. Hobbes’ sovereign rule is flawed as he believes each citizen will give up rights and obey a single ruler who has the final say in all decisions. This type of society will eventually crumble, be it by revolution or distrust in the sovereign’s ability; displaying the total failure of law and order while oppressed citizens rise and
Alternatively, if there is a low demand and a high supply, the price will be low. In other words, the market sets the price of goods, services, and labor. Demand will also determine how much of a product will be produced, or even if it will be produced at all. In a market system, you can engage in any type of lawful economic activity that you want, so long as you can pay for it.
It is important for the consumer and business to understand supply and demand. A simple principle of supply and demand is that the more demand and less supply means that the product is worth more. If a consumer didn’t understand supply and demand, then they would buy an overpriced product, and sell an underpriced one. Same goes with the business, where they don’t want to sell a product too low or too high, they want to adjust as the supply and demand does.
J RAWLS, The Laws of Peoples-with the Idea of Public Reason Revisited, Harvard University Press: USA, 1999. John Rawls was an influential political philosopher and his publications are widely read. One of which is the Law of Peoples published in 1993 which is the subject of my study. In the Law of Peoples Rawls concerns of the general principles whereby one can uphold and be accept by the liberal people as well as the non-liberal society. “This principle is a standard for which can be useful in regulating the behavior of the citizens towards one and other.”
This in turn could result in anarchy or social tumult. Many individuals living in challenging conditions or times who have natural talents and abilities most likely would want to keep their benefits in order to help improve the situation they are in. Such people would certainly be unwilling to share their talents with the less fortunate. Rawls disregards this fact, believing that the ones with the natural abilities live in a great environment while the ones who do not carry that ability live in a horrible and corrupted environment.
In his experiment Rawls imagines a group of individuals assembled to design their just, future society. The future citizens do not know what position they will be in this new society. They must plan this new society behind what Rawls calls the Veil of Ignorance. This veil of ignorance stipulates that, “no one knows his place in society, his class position or social status; nor does he know his fortune in the distribution of natural assets and abilities, his intelligence and strength, and the like”. Furthermore, the people in this experiment do not know the culture, traditions and economic standing of this future society.
On the other hand, while philosopher Robert Nozick paid a generous tribute to the brilliance of Rawls’ philosophical construction, he provides a rejection to Rawls’ claims from a libertarian perspective. Libertarians have the desire to divide and limit power. That is, government will be limited generally through a written constitution limiting the powers that the people delegate to government (Boaz, 2015). Nozick stated that Rawls’ idea would have resulted in the restriction of free choice or forced distribution within the society.
When there is a large number of sellers and a large number of buyers in a market, that market is regarded as a perfectly competitive market or industry. In a perfectly competitive market, a single firm cannot dictate the pace and the selling price (Khan Academy, n.d.). In other words, one firm cannot set the prices and the competitors are obligated to market prices. What is fascinating about a perfectly competitive industry is that the barriers that prevent new firms from entering the industry are flexible; that means there are minor barriers of entry as well as little or no barriers to exit the industry (Rittenberg & Tregarthen, 2009). Additionally, buyers and sellers have all the necessary information to make a decision to buy or sell a product.
John Rawls, a political philanthropist, work has immensely altered modern day political expectations. Rawls was able to begin his work off the bases that he didn't see many social institutions doings as just, in which motivated him began to work on his own theory of what a just society could potentially look like and consist of. He believed that the American society had no proper social justice system in place, but that the rich and powerful controlled how things were going. The powerful group was determining who was succeeding and moving to the top and ultimately, who remained at the bottom. “The ‘difference principle’ states that ‘social and economic inequalities should be arranged so that they are to the greatest benefit of the least advantage.’
In the event that market interest is relentless, an increment in business sector supply brings about a decrease in business sector costs and the other way around. In the event that market supply is unfaltering, an ascent sought after results in an ascent in business sector costs and the other way around. A business encourages exchanges in the middle of purchasers and venders (monetary markets) and makers and buyers (buyer products and administrations market). Markets experience variances and value movements coming about because of changes in supply and interest.
This is also where price mechanism takes place because any changes in demand and supply, will affect the price, and eventually balancing the demand to be equal to supply. This is the reason why consumers and producers have no control over the price, and in this situation, everyone is considered as price takers. This causes a horizontal line in the demand curve for the firm’s product(s), as can be seen in Figure 1 (b). Figure 1 There are barely any barriers to enter this market, making it easy to enter and exit according to the firm’s capabilities.
