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Questions and Answers
What is the primary focus of social justice according to Pope Pius XI?
What is the primary focus of social justice according to Pope Pius XI?
- Principles guiding human institutions (correct)
- Individual moral quality of actions
- Personal responsibility in economic development
- Distribution of resources among individuals
What is the relationship between individual virtues and social virtues?
What is the relationship between individual virtues and social virtues?
- Individual virtues are a subset of social virtues
- Social virtues replace individual virtues in institutions
- Social virtues are separate but complementary to individual virtues (correct)
- Individual virtues are more important than social virtues
What is the role of social institutions in social justice?
What is the role of social institutions in social justice?
- They are separate from individual actions
- They replace individual virtues in institutions
- They provide moral guidance to individuals
- They affect the behavior of individuals (correct)
What is the relationship between social justice and economic justice?
What is the relationship between social justice and economic justice?
What is the primary goal of social justice in relation to institutions?
What is the primary goal of social justice in relation to institutions?
What is the outcome of justly organized social institutions?
What is the outcome of justly organized social institutions?
What is the scope of social justice?
What is the scope of social justice?
What is the responsibility of individuals in social justice?
What is the responsibility of individuals in social justice?
What is the primary reason why people have rallied behind unjust causes throughout history?
What is the primary reason why people have rallied behind unjust causes throughout history?
What is the main challenge in pursuing and implementing justice in today's world?
What is the main challenge in pursuing and implementing justice in today's world?
What is the primary function of justice in guiding human behavior?
What is the primary function of justice in guiding human behavior?
What is the relationship between the Age of the Robot and the potential for eliminating poverty?
What is the relationship between the Age of the Robot and the potential for eliminating poverty?
What is the definition of justice mentioned in the text?
What is the definition of justice mentioned in the text?
What is the primary problem with the concept of justice?
What is the primary problem with the concept of justice?
What is the role of universal moral values in achieving justice?
What is the role of universal moral values in achieving justice?
What is the significance of the four cardinal virtues of classical moral philosophy?
What is the significance of the four cardinal virtues of classical moral philosophy?
What is the primary purpose of forming a just government, according to the Virginia Declaration of Rights?
What is the primary purpose of forming a just government, according to the Virginia Declaration of Rights?
What limitation on the rights of private property was achieved through the abolition of slavery and feudalism?
What limitation on the rights of private property was achieved through the abolition of slavery and feudalism?
What is the role of government in relation to private property, according to the text?
What is the role of government in relation to private property, according to the text?
What is the goal of the proposed system of economics and long-range strategy for restructuring the global economy?
What is the goal of the proposed system of economics and long-range strategy for restructuring the global economy?
What is one of the fundamental human rights that the proposed system of economics aims to provide?
What is one of the fundamental human rights that the proposed system of economics aims to provide?
What is the relationship between the pursuit of justice and the pursuit of economic goals?
What is the relationship between the pursuit of justice and the pursuit of economic goals?
What is the role of the modern business corporation in the proposed system of economics?
What is the role of the modern business corporation in the proposed system of economics?
What is the primary goal of the New Role of Private Property in a Just Global Marketplace?
What is the primary goal of the New Role of Private Property in a Just Global Marketplace?
What is the primary reason for the rare historical exception of free market policies in settling America's vast land frontier?
What is the primary reason for the rare historical exception of free market policies in settling America's vast land frontier?
What is the implication of 'Capital breeds capital' according to Marx?
What is the implication of 'Capital breeds capital' according to Marx?
According to Marx, why does Say's Law not work in a market economy?
According to Marx, why does Say's Law not work in a market economy?
What is the implication of 'Supply could not create its own demand'?
What is the implication of 'Supply could not create its own demand'?
What is the primary reason for the rejection of Say's Law by most modern political economists?
What is the primary reason for the rejection of Say's Law by most modern political economists?
What is the primary consequence of emerging technologies taking over tasks formerly performed by workers?
What is the primary consequence of emerging technologies taking over tasks formerly performed by workers?
What is the primary reason for the political interferences with the market system?
What is the primary reason for the political interferences with the market system?
What is the primary consequence of the non-owning majority's purchasing power in a market economy?
What is the primary consequence of the non-owning majority's purchasing power in a market economy?
What is the primary function of Social Justice within an economy?
What is the primary function of Social Justice within an economy?
What is the definition of 'economic harmonies' according to The Oxford English Dictionary?
What is the definition of 'economic harmonies' according to The Oxford English Dictionary?
What is the primary goal of the first two principles of Economic Justice?
What is the primary goal of the first two principles of Economic Justice?
What is the relationship between input and out-take in the principle of Economic Justice?
What is the relationship between input and out-take in the principle of Economic Justice?
What is the philosophical basis for the third principle of Social Justice?
What is the philosophical basis for the third principle of Social Justice?
What is the name of the French economist who first suggested the concept of a free market economy, where supply creates its own demand and demand its own supply?
What is the name of the French economist who first suggested the concept of a free market economy, where supply creates its own demand and demand its own supply?
What is the concept of justice reflected in Aristotle's 'exchange' justice?
What is the concept of justice reflected in Aristotle's 'exchange' justice?
What is the relationship between double-entry bookkeeping and the principle of Economic Justice?
What is the relationship between double-entry bookkeeping and the principle of Economic Justice?
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Study Notes
Economic Justice in the Age of the Robot
- Everyone has an innate sense of injustice, and justice involves applying principles to resolve conflicts and avoid injustices.
- Throughout history, people have fought for justice, but often with confused or divisive ideas, leading to tragic consequences.
Defining Justice
- One definition of justice is "giving to each what he or she is due," but the challenge lies in knowing what is due.
- Functionally, justice is a set of universal principles guiding people in judging what is right and wrong, regardless of culture and society.
Defining Social and Economic Justice
- Social justice is the broader concept, encompassing economic justice, and guides us in creating organized human interactions (institutions).
- Social justice focuses on the moral quality of institutions, not individual actions.
- Economic justice encompasses the moral principles guiding the design of economic institutions, affecting both individuals and the social order.
The Three Principles of Economic Justice
- Social Justice: The Feedback and Corrective Principle, which governs feedback and correction to restore a just and balanced economic order for all.
- Economic harmonies are defined as "laws of social adjustment" that produce maximum advantage for all.
- The first two principles of Economic Justice flow from the human instinct for justice in participation (input) and justice in distribution (out-take).
Economic Justice and Say's Law of Markets
- Say's Law postulates that in a free market economy, supply creates its own demand, and demand its own supply.
- The balancing principle is reflected in Aristotle's commutative or "exchange" justice and in double-entry bookkeeping.
- The history of politics is largely a history of attempts to repeal the laws of supply and demand, and to monopolize economic power and privilege.
Criticisms of Say's Law
- Karl Marx and John Maynard Keynes both condemned Say's Law, but for different reasons.
- Marx argued that Say's Law would not work in a market economy where workers could only participate as workers, not owners, and where technology and profits flowed into the hands of a small ownership class.
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