56 Questions
What is the primary goal of the principle of participation?
To ensure every person has the right to participate in the economy
What is the relationship between distributive justice and participative justice?
Distributive justice follows participative justice
What is the primary function of social justice?
To detect distortions in the economic order
What is the link between private property and distributive justice?
Private property is a means to achieve distributive justice
What is the role of government in achieving distributive justice?
Government has no role in achieving distributive justice
What is the distinction between distributive justice and charity?
Distributive justice is based on contribution, while charity is based on need
What is the effect of monopolies and special privileges on participative justice?
They distort participative justice
What is the relationship between economic institutions and distributive justice?
Distributive justice shapes economic institutions
What is the primary concern of Participative Justice in economic institutions?
Guaranteeing every person's participation in the economy
What is the ultimate goal of Social Justice in economic systems?
Achieving economic harmony for all
What is the relationship between Distributive Justice and social institutions?
Distributive Justice ensures fair distribution of resources within social institutions
What is the main objective of Social Justice in controlling monopolies?
Promoting fair competition
What is the role of private property in the context of economic justice?
Private property can be used to harm or exploit others
What is the underlying principle of economic harmony?
Balance between input and out-take
What is the primary concern of Social Justice in promoting economic harmony?
Ensuring every person's input is valued
What is the relationship between Social Justice and universal values?
Social Justice reflects human striving for universal values
What is the primary goal of economic justice according to the text?
To free each person to engage creatively in the unlimited work beyond economics
What is the role of social institutions in achieving economic justice?
To provide access to what is good for the person, both individually and in our associations with others
What is the primary focus of Participative Justice?
Providing equal access to the means of acquiring private property in productive assets
What is the relationship between the three principles of economic justice?
They are interdependent and essential
What is the primary objective of economic institutions?
To provide a means for individuals to earn a living
What is the role of private property in Participative Justice?
It is a means of acquiring productive assets
What is the primary function of Social Justice in the context of economic justice?
To provide feedback and corrective measures
What is the consequence of weakening or missing any of the three principles of economic justice?
The system of economic justice will collapse
What is the ultimate purpose of economic justice?
To free each person to engage creatively in the unlimited work beyond economics
According to the principles of economic justice, what is the role of social institutions?
To provide access to what is good for the person, both individually and in associations with others
What is the purpose of the three principles of economic justice?
To establish a fair economic system
What is the focus of Participative Justice in economic institutions?
Ensuring equal access to productive assets and opportunities
What happens when any of the three principles of economic justice are weakened or missing?
The system of economic justice will collapse
What is the relationship between economic institutions and social justice?
Economic institutions promote social justice
What is the focus of Social Justice in economic institutions?
Correcting imbalances and promoting harmony
What is the ultimate goal of social justice in economic systems?
To free each person to engage creatively beyond economics
What is the primary motivation behind the human striving for Social Justice?
To reflect universal values such as Truth, Love and Beauty
What is the result of Participative and Distributive Justice operating fully in an economic system?
Economic harmony
What is the primary goal of controlling monopolies in the context of Social Justice?
To ensure maximum advantage to the community
What is the primary purpose of the virtue of justice?
To elevate the dignity and sovereignty of the human person
What is the underlying principle of the first two principles of economic justice?
The human search for justice
What is the primary distinction between the concept of Social Justice and the principle of limitation?
Social Justice is more encompassing
What is the distinction between justice and charity?
Charity is the soul of justice, while justice supplies the material foundation
What is the highest aim of charity?
To elevate each person to where they do not need charity but can afford to become charitable themselves
What is the primary consequence of violating the principle of participation in an economic system?
Unjust barriers to participation
What is the primary relationship between economic justice and universal values?
Social Justice reflects universal values such as Truth, Love and Beauty
What is social justice, according to the text?
The virtue that guides us in creating organized human interactions we call institutions
What is the relationship between justice and charity?
Justice supplies the material foundation for charity
What is the primary objective of Social Justice in the context of economic institutions?
To continually repair and improve systems for the good of every person
What is the ultimate purpose of all the virtues?
To elevate the dignity and sovereignty of the human person
What is the main reason why participative justice does not guarantee equal economic outcomes?
Because it recognizes the varying contributions of labor and capital
What is the definition of justice, according to the text?
Giving to each what he or she is due
What is the distinction between the virtues of faith, hope, and charity, and the four cardinal virtues?
The virtues of faith, hope, and charity are considered to be the three 'religious virtues', while the four cardinal virtues are considered to be the four 'moral virtues'
What is the primary mechanism for determining the just price, wage, and profit in a system of distributive justice?
Free and open marketplace
What is the consequence of confusing distributive justice with charity?
Endless conflict and scarcity
What is the primary role of social justice in economic systems?
To detect distortions and guide corrections
What is the relationship between monopolies and participative justice?
Monopolies distort participative justice
What is the basis of distributive justice?
To each according to his contribution
What is the primary condition for distributive justice to be effective?
All persons having equal opportunity to acquire income-producing property
What is the underlying principle of social justice?
Feedback and correction
Study Notes
The Principle of Participation
- Does not guarantee equal results, but ensures equal human right to participate in the production of marketable goods and services
- Requires equal access to labor and productive capital for every person
- Rejects monopolies, special privileges, and other exclusionary social barriers to full participation and economic self-reliance
Distributive Justice
- Defines the output or out-take rights of an economic system matched to each person's labor and capital inputs
- Linked to participative justice, ensuring incomes are linked to productive contributions
- Involves the sanctity of property and contracts
- Based on the idea "to each according to his contribution", not "to each according to his needs"
- Free and open marketplace determines the just price, wage, and profit
Social Justice
- The "feedback and corrective" principle that detects distortions of the input and out-take principles
- Guides corrections needed to restore a just and balanced economic order for all
- Imposes personal responsibility to collaborate with others to design and perfect institutions for personal and social development
Defining Economic Justice
- Encompasses moral principles that guide the design of economic institutions
- Determines how each person earns a living, enters into contracts, and exchanges goods and services
- Ultimate purpose is to free each person to engage creatively in the unlimited work beyond economics
The Three Principles of Economic Justice
- Participative Justice (input principle): equal access to means of acquiring private property and engaging in productive work
- Distributive Justice (out-take principle): output or out-take rights matched to labor and capital inputs
- Social Justice (feedback and corrective principle): detects distortions and guides corrections to restore a just and balanced economic order
Graphical Representation
- The three principles of economic justice can be depicted as a three-legged stool, where if any principle is weakened or missing, the system will collapse
Defining Justice
- Justice is giving to each person what they are due, but the problem lies in determining what is due.
- Justice is a set of universal principles that guide people in judging what is right and wrong, regardless of culture and society.
- Justice is one of the four "cardinal virtues" of classical moral philosophy, along with courage, temperance, and prudence.
Distinguishing Justice from Charity
- Justice and charity are often confused, but they are distinct virtues.
- Charity is derived from the Latin word "caritas" or "divine love," and it is the soul of justice.
- Justice supplies the material foundation for charity, while charity deals with the spirit of human interactions and exceptional cases.
Defining Social Justice
- Social justice encompasses economic justice.
- Social justice guides us in creating institutions that provide access to what is good for the person, both individually and in associations with others.
- Social justice imposes a personal responsibility on each of us to collaborate with others to design and perfect our institutions.
Defining Economic Justice
- Economic justice touches the individual person as well as the social order.
- Economic justice encompasses the moral principles that guide us in designing our economic institutions.
- The ultimate purpose of economic justice is to free each person to engage creatively in work beyond economics, that of the mind and the spirit.
The Three Principles of Economic Justice
- Participative Justice is the input principle, requiring equal access to the means of acquiring private property in productive assets.
- Distributive Justice is the out-take principle, defining the rights of an economic system matched to each person's labor and capital inputs.
- Social Justice is the feedback and corrective principle, detecting distortions and guiding corrections to restore a just and balanced economic order.
Key Principles of Economic Justice
- Participative Justice requires equal opportunity to participate in the production of marketable goods and services through labor and/or productive capital.
- Distributive Justice involves the sanctity of property and contracts, and incomes are linked to productive contributions.
- Social Justice detects distortions of the input and out-take principles and guides corrections to restore a just and balanced economic order.
This quiz explores the principles of economic participation and distributive justice, including the right to contribute to market production and the rejection of monopolies and social barriers.
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