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Whole-of-society, or Whole of society, is a concept in international relations and related fields which looks to engage diverse groups across society to further common policy goals. Definition [ edit ]
Distributive justice concerns the socially just allocation of resources, goods, opportunity in a society. It is concerned with how to allocate resources fairly among members of a society, taking into account factors such as wealth, income, and social status.
In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. . Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be ...
An elaborate example of this in a non-market society is the potlatch, where large amounts of personal resources are ceremonially given away to others in the community according to social status, with the tacit expectation that other members of the community would themselves give away large amounts of their own property in the future.
Allocative efficiency is a state of the economy in which production is aligned with the preferences of consumers and producers; in particular, the set of outputs is chosen so as to maximize the social welfare of society. [1] This is achieved if every produced good or service has a marginal benefit equal to the marginal cost of production.
Participatory budgeting pamphlets Presentation of the winning participatory budgeting projects in the district of Białołęka, Warsaw. Participatory budgeting (PB) is a type of citizen sourcing in which ordinary people decide how to allocate part of a municipal or public budget through a process of democratic deliberation and decision-making.
The simplest example is the family household. Other examples include barter economies, gift economies and primitive communism. Even in a monetary economy, there are a significant number of nonmonetary transactions. Examples include household labor, care giving, civic activity, or friends working to help one another.
For example, there are sometimes long chains of exchanges, in which A gives a benefit to B, who passes on a similar benefit to C, and so on, in which each party in the chain expects that what goes around will eventually come back around. The classic anthropological example is the Kula exchange in the Trobriand Islands.