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A cardinal social welfare function is a function that takes as input numeric representations of individual utilities (also known as cardinal utility), and returns as output a numeric representation of the collective welfare. The underlying assumption is that individuals utilities can be put on a common scale and compared.
In social choice and operations research, the egalitarian rule (also called the max-min rule or the Rawlsian rule) is a rule saying that, among all possible alternatives, society should pick the alternative which maximizes the minimum utility of all individuals in society.
John Bordley Rawls (/ r ɔː l z /; [2] February 21, 1921 – November 24, 2002) was an American moral, legal and political philosopher in the modern liberal tradition. [3] [4] Rawls has been described as one of the most influential political philosophers of the 20th century.
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).
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [1]The principles of welfare economics are often used to inform public economics, which focuses on the ways in which government intervention can improve social welfare.
The approach begins with the specification of a social welfare function. The choice of a social welfare function is rooted in an ethical theory. A utilitarian social welfare function weights the well-being of each individual equally, while a Rawlsian social welfare function only considers the welfare of the least well-off individual. [48]
A visual depiction of philosopher John Rawls's hypothetical veil of ignorance. Citizens making choices about their society are asked to make them from an "original position" of equality (left) behind a "veil of ignorance" (wall, center), without knowing what gender, race, abilities, tastes, wealth, or position in society they will have (right).
[2]: 180 Welfare-state capitalism is based upon a redistribution of income through means tested social welfare, as opposed to a reallocation of productive resources under property-owning democracies. Proponents of property-owning democracy would claim that this form of social structure produces socioeconomic classes, at the base of which sits a ...