Game theory

Economic justice

Justice in economics is a subcategory of welfare economics. It is a "set of moral and ethical principles for building economic institutions". Economic justice aims to create opportunities for every person to have a dignified, productive and creative life that extends beyond simple economics. Models of economic justice frequently represent the ethical-social requirements of a given theory, whether "in the large", as of a just social order, or "in the small", as in the equity of "how institutions distribute specific benefits and burdens". That theory may or may not elicit acceptance. In the Journal of Economic Literature classification codes 'justice' is scrolled to at JEL: D63, wedged on the same line between 'Equity' and 'Inequality' along with 'Other Normative Criteria and Measurement'. Categories above and below the line are Externalities and Altruism. Some ideas about justice and ethics overlap with the origins of economic thought, often as to distributive justice and sometimes as to Marxian analysis. The subject is a topic of normative economics and philosophy and economics. In early welfare economics, where mentioned, 'justice' was little distinguished from maximization of all individual utility functions or a social welfare function. As to the latter, Paul Samuelson (1947), expanding on work of Abram Bergson, represents a social welfare function in general terms as any ethical belief system required to order any (hypothetically feasible) social states for the entire society as "better than", "worse than", or "indifferent to" each other. Kenneth Arrow (1963) showed a difficulty of trying to extend a social welfare function consistently across different hypothetical ordinal utility functions even apart from justice. Utility maximization survives, even with the rise of ordinal-utility/Pareto theory, as an ethical basis for economic-policy judgments in the wealth-maximization criterion invoked in law and economics. Amartya Sen (1970), Kenneth Arrow (1983), Serge-Christophe Kolm (1969, 1996, 2000), and others have considered ways in which utilitarianism as an approach to justice is constrained or challenged by independent claims of equality in the distribution of primary goods, liberty, entitlements, opportunity, exclusion of antisocial preferences, possible capabilities, and fairness as non-envy plus Pareto efficiency. Alternate approaches have treated combining concern for the worst off with economic efficiency, the notion of personal responsibility and (de)merits of leveling individual benefits downward, claims of intergenerational justice, and other non-welfarist/Pareto approaches. Justice is a subarea of social choice theory, for example as to extended sympathy, and more generally in the work of Arrow, Sen, and others. A broad reinterpretation of justice from the perspective of game theory, social contract theory, and evolutionary naturalism is found in works of Ken Binmore (1994, 1998, 2004) and others. Arguments on fairness as an aspect of justice have been invoked to explain a wide range of behavioral and theoretical applications,supplementing earlier emphasis on economic efficiency (Konow, 2003). (Wikipedia).

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Is There an Alternative to Political Correctness?

Political correctness aims for some very nice results, but its means have a habit of upsetting a lot of people. Might there be an alternative to it? We think there is, and it’s called Politeness. If you like our films, take a look at our shop (we ship worldwide): https://goo.gl/iVqWJ1 Joi

From playlist WORK + CAPITALISM

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Classical liberalism #4: How does the rule of law promote a free society? | James Stoner | Big Think

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From playlist Classical Liberalism | Big Think

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How Governments Can Support Economic Growth

Now that we have discussed several types of economies that vary in the degree of government involvement, it's time to get a closer look at a government's role in economic growth. It is possible for governments to both promote and hinder economic growth, so let's start by looking at six way

From playlist Economics

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Advancing Data Justice: A Guide for Policymaker

Research from The Alan Turing Institute brings together perspectives from across the globe to discuss how data-driven technologies can be deployed in a way which is compatible with values of social justice. Read more about the Advancing Data Justice: Research and Practice project here: h

From playlist Advancing Data Justice

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Advancing Data Justice: What is data justice?

Research from The Alan Turing Institute brings together perspectives from across the globe to discuss how data-driven technologies can be deployed in a way which is compatible with values of social justice. Read more about the Advancing Data Justice: Research and Practice project here: h

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The Difference Between Fiscal and Monetary Policy

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From playlist Economics

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Liberalism

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From playlist Social & Political Philosophy

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Advancing Data Justice: Power pillar

Research from The Alan Turing Institute brings together perspectives from across the globe to discuss how data-driven technologies can be deployed in a way which is compatible with values of social justice. Read more about the Advancing Data Justice: Research and Practice project here: h

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Introduction to Economics

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From playlist Economics

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G. A. Cohen on Justice & Incentives (2001)

G. A. Cohen gives a talk called "Rescuing Justice from Constructivism: Justice & Incentives" in 2001. 00:00 Stand-Up Comedy 10:04 The Talk #Philosophy #PoliticalPhilosophy

From playlist Social & Political Philosophy

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Relevance of a transitional justice framework to address Belgium’s colonial past

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From playlist MIT 21A.S01 Reparations for Slavery and Colonization: Contemporary Movements for Justice, Fall 2021

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November 1, 2009 Sermon at Yale University Church

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From playlist The University Church in Yale Weekly Sermons

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Plato's Republic - Theory of Justice

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From playlist Social & Political Philosophy

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From playlist Ohio State: Humanitarian Engineering with Kevin Passino | CosmoLearning.org Engineering

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From playlist Social & Political Philosophy

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Philosophy & Politics - Ronald Dworkin & Bryan Magee (1978)

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From playlist Bryan Magee Interviews - Modern Philosophy: Men of Ideas (1977-1978)

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From playlist Latest talks and lectures

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Rawls vs Nozick

Ronald Dworkin gives a very brief, introductory overview of John Rawls' "A Theory of Justice" and Robert Nozick's "Anarchy, State, and Utopia" in an interview with Bryan Magee from 1978. Although both wrote very influential works of political philosophy, they came to quite different conclu

From playlist Social & Political Philosophy

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Advancing Data Justice: Knowledge pillar

Research from The Alan Turing Institute brings together perspectives from across the globe to discuss how data-driven technologies can be deployed in a way which is compatible with values of social justice. Read more about the Advancing Data Justice: Research and Practice project here: h

From playlist Advancing Data Justice

Related pages

Pareto efficiency | Kenneth Arrow | Mathematical problem | Fair division | Behavioral economics | Equity (economics) | Game theory | Social choice theory | Representation (mathematics) | Social welfare function | Laffer curve | Utility