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
Table of Contents
1 Introduction
2 Economic theories as foundation for prosperity and progress
2.1 Emergence of the economic theory and the inheritance of its initial sin
2.2 Advancement of the human being to the central figure in the economy
2.3 Containment of devastating character traits in the economic domain
2.4 Correlation between the prevailing economic theory and (in)equality
3 Inequality levels in regions with diverse economic systems
3.1 Japan: Transition from planned development to free market economy
3.2 Germany: Social market order as consequence of ordoliberal thinking
3.3 USA: Meritocracy formed by an almost pure capitalist economic system
3.4 Failure of the (welfare) state and its potential harmful consequences
4 The most appealing philosophies of justice and (in)equality
4.1 Political equality – Justice of equal rights and political participation
4.2 Economic equality – Justice of the distribution of income and wealth
4.3 Social equality – Justice of opportunities and settings for a decent life
4.4 Equality matrix to achieve fairness as overarching societal objective
5 Compilation of a comprehensive tool kit to achieve fairness
5.1 Regulative: The economic alignment towards a long-term perspective
5.2 Corrective: The creation of a condition with fairly-distributed resources
5.3 Prevalent: The achievement of equality of opportunity in the society
5.4 Predictive: The state of inequality will not be an eternal circumstance
6 Human-centred business and market economy framework
6.1 Columns of an economic system that ensures sustainable well-being
6.2 Micro-level: Regulated scope of business behavior with a liberal quality
6.3 Macro-level: Intervention instruments for overall balance and stability
6.4 Theory of reasonable Progress as response to neoliberalism’s failure
7 European integration within a clear determined framework
7.1 Strong civil society as a precondition for further integration progress
7.2 Critical perspective on the integration process and remedy measures
7.3 Decision between two different categories of European collaboration
7.4 Vision of a continent that creates confidence by retrieving humanity
8 Conclusions
Objectives and Topics
This work explores the root causes of social inequality as a driver for economic disparity and proposes a normative framework, "Theory of reasonable Progress," to re-center human values in economic systems. It examines the interplay between political, social, and economic spheres, advocating for a balance between individual liberty and social justice through regulated, human-centric market structures.
- Analysis of inequality origins and levels across Japan, Germany, and the USA.
- Development of an "Equality Matrix" to achieve societal fairness.
- Creation of a comprehensive tool kit for economic intervention and regulation.
- Application of the proposed framework to the future of European integration.
- Integration of moral philosophy and economic theory to address the failure of neoliberalism.
Auszug aus dem Buch
1 Introduction
Economic prosperity in association with a liberal environment facilitates ingenuity and allows the human being to develop. Liberalism is not solely the freedom of thinking, speaking, and acting within the framework of democratic rights and a liberal market economy; it paves the way for accomplishing outstanding achievements and for getting compensation for those dedicated endeavors. Supported by the equality of opportunity, every human being can participate in the success story of mankind while having a decent life.
However, the current economic and societal development is in favor of a downward spiral since inequality is steadily rising which is heavily acting against the ideal of mutual human progress and equality of opportunity. Free market forces should regulate the balance between income and performance. The mechanism did never work sufficiently, or at least has stopped functioning, since the return on capital/investment is usually higher than the income through ordinary work. Accumulation of wealth accompanied by increasing political influence of wealthy people and diminishing moral principles in societies is an essential threat to the public order because political participation as well as equal opportunities are weakening for social groups who do not belong to the better-off. Unshackled greed in the wake of unregulated markets inspires wealth concentration and will constantly remove the synergies of individual liberty and prosperity. More regulation is required since the market itself is not sufficient to create a fair society that is worth living in.
Summary of Chapters
1 Introduction: Provides the foundation for the study by discussing the necessity of integrating liberal human values into economic frameworks to counteract rising inequality.
2 Economic theories as foundation for prosperity and progress: Traces the historical development of economic thought, comparing Classical and Keynesian approaches, and introduces Ordoliberalism as a potential remedy for social disparity.
3 Inequality levels in regions with diverse economic systems: Examines and compares the socioeconomic landscapes, welfare approaches, and inequality indicators of Japan, Germany, and the USA.
4 The most appealing philosophies of justice and (in)equality: Discusses various philosophical justice concepts and introduces the "Equality Matrix" as a practical method to measure and achieve societal fairness.
5 Compilation of a comprehensive tool kit to achieve fairness: Outlines specific regulatory, corrective, and predictive policy instruments designed to reduce systemic inequalities and improve social responsibility.
6 Human-centred business and market economy framework: Synthesizes previous findings into a holistic framework that promotes sustainable well-being through micro-level business regulation and macro-level economic stability.
7 European integration within a clear determined framework: Applies the developed prosperity framework to the European context, proposing a two-tier model to resolve the integration crisis and restore citizen confidence.
8 Conclusions: Reaffirms the necessity of boundaries in a liberal economic system to ensure that human-centric values drive economic progress.
Keywords
Inequality, Social Justice, Liberalism, Ordoliberalism, Equality of Opportunity, Fairness, Economic Prosperity, Human-centred Economy, Welfare State, Corporate Social Responsibility, European Integration, Market Regulation, Wealth Distribution, Meritocracy, Civil Society.
Frequently Asked Questions
What is the core focus of this research?
The work focuses on the systemic issue of rising social and economic inequality, proposing that economic systems must be redesigned to prioritize human well-being and societal fairness over unrestricted market expansion.
What are the central themes discussed?
The themes include the history of economic theories, the impact of neoliberalism on social cohesion, the role of government in regulating markets, and the necessity of establishing equality of opportunity.
What is the primary research goal?
The goal is to determine which political, economic, and social framework can balance individual liberty, social justice, and economic efficiency to contain destructive human behavior caused by inequality.
Which scientific methodology is utilized?
The paper utilizes a qualitative comparative analysis of historical economic theories, current inequality indicators in three major regions, and the synthesis of established philosophical frameworks into a new, actionable model.
What is covered in the main body of the work?
The body covers a critical review of economic theories (Keynesianism, Ordoliberalism), regional case studies (Japan, Germany, USA), the development of an "Equality Matrix," and proposed instruments for sustainable economic management.
What characterizes this research?
The research is characterized by its normative approach, aiming to provide a practical, human-centered blueprint for economic policy that avoids the extremes of both pure socialism and unbridled neoliberalism.
How does the author view the role of the state?
The author argues that the state must act as a supervisor and creator of a fair legal framework—ensuring competition and social stability—rather than directly controlling all economic activities.
What specific proposal is made for European integration?
The author proposes a two-tier system consisting of a "European Federation" for closer integration and a "European Community" as a sophisticated free trade zone, allowing member states to choose their desired level of collaboration.
- Arbeit zitieren
- Patrick Pobuda (Autor:in), 2017, Humanity in Economics, München, GRIN Verlag, https://www.grin.com/document/368207
