Discover the Principles of Economic and Social Justice

Understanding Economic and Social Justice

• Justice involves universal principles that guide people in judging what is right and wrong, and it can be pursued and implemented in practical ways to resolve and avoid human conflicts.

• Social justice is the broader concept that encompasses economic justice, and it guides us in creating justly organized human interactions we call institutions.

• Economic justice encompasses the moral principles that guide us in designing our economic institutions, which determine how each person earns a living and produces an independent material foundation for their economic sustenance.

• Private property is a set of rights, powers, and privileges that an individual enjoys in their relationship to things, and it is essential to decentralizing economic power and achieving distributive justice.

• Joint or share ownership provides each shareholder with a definable private property stake in the corporation, and democratizing ownership is essential for democratizing power.

• Money is a social tool invented to facilitate economic transactions, and it can be used justly or unjustly by those who control it to suppress the freedom and human potential of the many or achieve universal economic empowerment and prosperity.

• Property in the means of production is the primary social link between a particular human being and the process of producing and distributing wealth, and assuming that economic values are set democratically and freely in a competitive marketplace, property incomes become the key to distributive justice.

• The Kelso-Adler theory of economic justice recognizes property as an institution essential to controlling income distribution patterns and diffusing access to private property broadly among all members of society.

• The pursuit of justice involves three essential and interdependent pillars of the expanded ownership theory of economic justice: Participative Justice, Distributive Justice, and Social Justice.

• Participative justice involves how one makes an input to the economic process, through one’s human contributions.

• Distributive justice involves how the output of the economic process is distributed, with everyone having a right to a fair share of the wealth produced.

• Social justice involves ensuring that the economic process operates in harmony with other human activities and institutions, and it imposes on each of us a personal responsibility to work with others to design and continually perfect our institutions as tools for personal and social development.Principles of Economic Justice and Participatory Democracy

• Economic justice requires equal participation in both ownership and labor contributions to the economy.

• Participatory justice is a humanizing alternative to institutionalized charity and governmental redistribution.

• Distributive justice is based on the idea of “to each according to his contribution” rather than “to each according to his needs.”

• The sanctity of property, contracts, and the free and open marketplace are essential to distributive justice.

• Social justice governs feedback and corrective principles to restore a just and balanced economic order for all.

• Say’s Law postulated that in a free market economy, supply would create its own demand, and demand its own supply.

• Marx and Keynes both condemned Say’s Law for different reasons, but Louis Kelso revived its logic as a means for restoring equilibrium between aggregate supply and demand.

• Access to capital ownership combines justice with efficiency and makes the competitive market mechanism more democratic and objective.

• Universal participation in ownership and profit distributions would produce an expanding political constituency necessary to shift control over the economy to a more dynamic, decentralized, and just private sector.

• Social justice offers guidelines for controlling monopolies, building checks-and-balances within social institutions, and re-synchronizing distribution with participation.

• The pursuit of harmony and more perfect understanding and realization of absolute values, including Truth, Beauty, Love, and Justice, requires the principle of Social Justice.

• The work of restructuring the social order is never finished, but justice is a moral imperative that we are all called to pursue endlessly.

Understanding Economic and Social Justice

• Justice involves universal principles that guide people in judging what is right and wrong, and it can be pursued and implemented in practical ways to resolve and avoid human conflicts.

• Social justice is the broader concept that encompasses economic justice, and it guides us in creating justly organized human interactions we call institutions.

• Economic justice encompasses the moral principles that guide us in designing our economic institutions, which determine how each person earns a living and produces an independent material foundation for their economic sustenance.

• Private property is a set of rights, powers, and privileges that an individual enjoys in their relationship to things, and it is essential to decentralizing economic power and achieving distributive justice.

• Joint or share ownership provides each shareholder with a definable private property stake in the corporation, and democratizing ownership is essential for democratizing power.

• Money is a social tool invented to facilitate economic transactions, and it can be used justly or unjustly by those who control it to suppress the freedom and human potential of the many or achieve universal economic empowerment and prosperity.

• Property in the means of production is the primary social link between a particular human being and the process of producing and distributing wealth, and assuming that economic values are set democratically and freely in a competitive marketplace, property incomes become the key to distributive justice.

• The Kelso-Adler theory of economic justice recognizes property as an institution essential to controlling income distribution patterns and diffusing access to private property broadly among all members of society.

• The pursuit of justice involves three essential and interdependent pillars of the expanded ownership theory of economic justice: Participative Justice, Distributive Justice, and Social Justice.

• Participative justice involves how one makes an input to the economic process, through one’s human contributions.

• Distributive justice involves how the output of the economic process is distributed, with everyone having a right to a fair share of the wealth produced.

• Social justice involves ensuring that the economic process operates in harmony with other human activities and institutions, and it imposes on each of us a personal responsibility to work with others to design and continually perfect our institutions as tools for personal and social development.Principles of Economic Justice and Participatory Democracy

• Economic justice requires equal participation in both ownership and labor contributions to the economy.

• Participatory justice is a humanizing alternative to institutionalized charity and governmental redistribution.

• Distributive justice is based on the idea of “to each according to his contribution” rather than “to each according to his needs.”

• The sanctity of property, contracts, and the free and open marketplace are essential to distributive justice.

• Social justice governs feedback and corrective principles to restore a just and balanced economic order for all.

• Say’s Law postulated that in a free market economy, supply would create its own demand, and demand its own supply.

• Marx and Keynes both condemned Say’s Law for different reasons, but Louis Kelso revived its logic as a means for restoring equilibrium between aggregate supply and demand.

• Access to capital ownership combines justice with efficiency and makes the competitive market mechanism more democratic and objective.

• Universal participation in ownership and profit distributions would produce an expanding political constituency necessary to shift control over the economy to a more dynamic, decentralized, and just private sector.

• Social justice offers guidelines for controlling monopolies, building checks-and-balances within social institutions, and re-synchronizing distribution with participation.

• The pursuit of harmony and more perfect understanding and realization of absolute values, including Truth, Beauty, Love, and Justice, requires the principle of Social Justice.

• The work of restructuring the social order is never finished, but justice is a moral imperative that we are all called to pursue endlessly.

Understanding Economic and Social Justice

• Justice involves universal principles that guide people in judging what is right and wrong, and it can be pursued and implemented in practical ways to resolve and avoid human conflicts.

• Social justice is the broader concept that encompasses economic justice, and it guides us in creating justly organized human interactions we call institutions.

• Economic justice encompasses the moral principles that guide us in designing our economic institutions, which determine how each person earns a living and produces an independent material foundation for their economic sustenance.

• Private property is a set of rights, powers, and privileges that an individual enjoys in their relationship to things, and it is essential to decentralizing economic power and achieving distributive justice.

• Joint or share ownership provides each shareholder with a definable private property stake in the corporation, and democratizing ownership is essential for democratizing power.

• Money is a social tool invented to facilitate economic transactions, and it can be used justly or unjustly by those who control it to suppress the freedom and human potential of the many or achieve universal economic empowerment and prosperity.

• Property in the means of production is the primary social link between a particular human being and the process of producing and distributing wealth, and assuming that economic values are set democratically and freely in a competitive marketplace, property incomes become the key to distributive justice.

• The Kelso-Adler theory of economic justice recognizes property as an institution essential to controlling income distribution patterns and diffusing access to private property broadly among all members of society.

• The pursuit of justice involves three essential and interdependent pillars of the expanded ownership theory of economic justice: Participative Justice, Distributive Justice, and Social Justice.

• Participative justice involves how one makes an input to the economic process, through one’s human contributions.

• Distributive justice involves how the output of the economic process is distributed, with everyone having a right to a fair share of the wealth produced.

• Social justice involves ensuring that the economic process operates in harmony with other human activities and institutions, and it imposes on each of us a personal responsibility to work with others to design and continually perfect our institutions as tools for personal and social development.Principles of Economic Justice and Participatory Democracy

• Economic justice requires equal participation in both ownership and labor contributions to the economy.

• Participatory justice is a humanizing alternative to institutionalized charity and governmental redistribution.

• Distributive justice is based on the idea of “to each according to his contribution” rather than “to each according to his needs.”

• The sanctity of property, contracts, and the free and open marketplace are essential to distributive justice.

• Social justice governs feedback and corrective principles to restore a just and balanced economic order for all.

• Say’s Law postulated that in a free market economy, supply would create its own demand, and demand its own supply.

• Marx and Keynes both condemned Say’s Law for different reasons, but Louis Kelso revived its logic as a means for restoring equilibrium between aggregate supply and demand.

• Access to capital ownership combines justice with efficiency and makes the competitive market mechanism more democratic and objective.

• Universal participation in ownership and profit distributions would produce an expanding political constituency necessary to shift control over the economy to a more dynamic, decentralized, and just private sector.

• Social justice offers guidelines for controlling monopolies, building checks-and-balances within social institutions, and re-synchronizing distribution with participation.

• The pursuit of harmony and more perfect understanding and realization of absolute values, including Truth, Beauty, Love, and Justice, requires the principle of Social Justice.

• The work of restructuring the social order is never finished, but justice is a moral imperative that we are all called to pursue endlessly.