The negligence of humanity in economics has already led to huge inequalities in different spheres. This book does focus on social inequality as the considered root-cause for economic inequality while noticing the interrelations between political, economic, and social inequalities. Therefore, the introduced normative concept aims at the establishment of a long-term perspective in the economic sphere, the fairly-distributed allocation of resources as a result of political interference, and the ensuring of equality of opportunity in the social sphere by realization of the “Theory of liberal Fairness”. The intention is to enable citizens as well as societies coping with future challenges while putting the human being back in the center. To allow such a state, the “Theory of reasonable Progress” is proposed as an economic system that is based on Ordoliberalism with some Keynesian elements.
The inquiry begins with some theoretical economic concepts and examines the origins as well as different levels of inequality in three countries with their special adoption of a market economy while investigating in each of them the owners of social responsibility. It is followed by a selection of some applicable as well as practicable theories of justice and the compilation of diverse measures in form of a comprehensive tool kit for the establishment of fairness as a response to the growing inequalities in our society. Hereby, the ownership of social responsibility is shared between the public and the private sector. These outcomes will be utilized to develop a framework for the promotion of humanity in economics while also maintaining a high degree of fairness. Consequently, these concepts will be applied to the European Union as an example for their proposed functioning.
From the text:
- Economic theories;
- Inequality levels;
- Fairness;
- Human-centred business;
- European integration
Inhaltsverzeichnis (Table of Contents)
- Abstract
- Preface
- 1 Introduction
- 2 Inequality: A Global Challenge
- 2.1 Inequality in the United States
- 2.2 Inequality in Germany
- 2.3 Inequality in China
- 3 Theories of Justice
- 4 Establishing Fairness in the Economic Sphere
- 4.1 The Theory of Liberal Fairness
- 4.2 The Theory of Reasonable Progress
- 5 Application to the European Union
- 6 Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to address the issue of inequality and its consequences in economic spheres. It examines the root causes of inequality, analyzes the interrelation between political, economic, and social inequalities, and proposes a normative concept for establishing fairness in the economic sphere.
- The interrelation between political, economic, and social inequalities.
- The establishment of a long-term perspective in the economic sphere.
- The fair distribution of resources through political interference.
- The realization of the Theory of Liberal Fairness to ensure equality of opportunity.
- The application of the Theory of Reasonable Progress as an economic system based on Ordoliberalism with Keynesian elements.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter introduces the topic of inequality and its impact on economic spheres. It outlines the paper's objectives and the key themes to be explored.
- Inequality: A Global Challenge: This chapter examines the issue of inequality across different countries, specifically focusing on the United States, Germany, and China. It analyzes the specific manifestations of inequality in these countries, exploring the historical context and current trends.
- Theories of Justice: This chapter explores different theoretical frameworks for understanding justice, particularly those relevant to the issue of economic inequality. It presents various perspectives on the distribution of resources and the role of fairness in society.
- Establishing Fairness in the Economic Sphere: This chapter proposes two key concepts for establishing fairness in the economic sphere: the Theory of Liberal Fairness and the Theory of Reasonable Progress. It outlines the principles underlying these concepts and how they can be applied to address inequality.
- Application to the European Union: This chapter explores the practical implications of the proposed concepts for the European Union. It examines how these concepts can be implemented in a specific regional context.
Schlüsselwörter (Keywords)
This paper focuses on the themes of inequality, social justice, economic fairness, political intervention, liberal fairness, reasonable progress, ordoliberalism, Keynesian economics, and social responsibility. It explores these themes through the lens of different economic systems and their impact on social outcomes.
- Quote paper
- Patrick Pobuda (Author), 2017, Humanity in Economics, Munich, GRIN Verlag, https://www.grin.com/document/368207
