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Justice and the Market is an ethical perspective based upon the allocation of scarce resources within a society which balances justice against the market.The allocation of resources depends upon governmental policies and the societal attitudes of the individuals who exist within the society.
A Theory of Justice is a 1971 work of political philosophy and ethics by the philosopher John Rawls (1921–2002) in which the author attempts to provide a moral theory alternative to utilitarianism and that addresses the problem of distributive justice (the socially just distribution of goods in a society).
Therefore, distributive justice, redistribution of wealth, and the demands for social justice in a society ruled by an impersonal process such as the market are in this sense incompatible with that system. In his book The Road to Serfdom, [31] there can be found considerations about social assistance from the state.
The just price is a theory of ethics in economics that attempts to set standards of fairness in transactions. With intellectual roots in ancient Greek philosophy , it was advanced by Thomas Aquinas based on an argument against usury , which in his time referred to the making of any rate of interest on loans .
Responsive communitarianism stresses the importance of society and its institutions above and beyond that of the state and the market, which are often the focus of other political philosophies. It also emphasizes the key role played by socialization, moral culture, and informal social controls rather than state coercion or market pressures.
Nozick's other work involved ethics, decision theory, philosophy of mind, metaphysics and epistemology. His final work before his death, Invariances (2001), introduced his theory of evolutionary cosmology , by which he argues invariances, and hence objectivity itself, emerged through evolution across possible worlds .
The defining characteristics of libertarian legal theory are its insistence that the amount of governmental intervention should be kept to a minimum and the primary functions of law should be enforcement of contracts and social order, though social order is often seen as a desirable side effect of a free market rather than a philosophical ...
Economic ethics attempts to incorporate morality and cultural value qualities to account for the limitation of economics, which is that human decision making is not restricted to rationality. [31] This understanding of culture unites economics and ethics as a complete theory of human action. [23]