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The principle is part of justice that established distributive justice.Rawls awards the fair equality of opportunity principle lexical priority over the difference principle: Society cannot adjust inequality to maximize the proportion of those who are most vulnerable without providing positions and the opportunities that are necessary for the worse-off to achieve them.
Generally, the terms equality of opportunity and equal opportunity are interchangeable, with occasional slight variations; the former has more of a sense of being an abstract political concept while "equal opportunity" is sometimes used as an adjective, usually in the context of employment regulations, to identify an employer, a hiring approach ...
(b) Social and economic inequalities are to satisfy two conditions: first, they are to be attached to offices and positions open to all under conditions of fair equality of opportunity; and second, they are to be to the greatest benefit of the least-advantaged members of society (the difference principle).
The first principle is often called the greatest equal liberty principle. Part (a) of the second principle is referred to as the difference principle while part (b) is referred to as the equal opportunity principle. [1] Rawls orders the principles of justice lexically, as follows: 1, 2b, 2a. [4] The greatest equal liberty principle takes ...
Thus, participants would be moved to affirm a two-part second principle comprising Fair Equality of Opportunity and the famous (and controversial [25]) difference principle. This second principle ensures that those with comparable talents and motivation face roughly similar life chances and that inequalities in society work to the benefit of ...
The need to formulate general legal principles on equality was defined on the basis of (i) acknowledging the pervasiveness of discrimination and the weaknesses in the protection of the right to equality at both international and national levels, (ii) the absence of comprehensive equality legislation in many countries around the world and the recognition that such legislation is necessary to ...
Accounting Principles Board Opinions, Interpretations and Recommendations were published by the Accounting Principles Board from 1962 to 1973. The board was created by American Institute of Certified Public Accountants (AICPA) in 1959 and was replaced by Financial Accounting Standards Board (FASB) in 1973.
The concept of the Fair Value Hierarchy is therefore introduced in paragraphs 22 through 31 in SFAS No. 157. To provide the financial statement user with more insight into the valuation techniques and to create comparability among financial statements, SFAS No. 157 requires the fair value assets and liabilities to be allocated to different levels or hierarchies based on the transparencies of ...