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Normative Economics and Economic Justice
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Normative Economics and Economic Justice

plato.stanford.edu·Fleurbaey, Marc·25 days ago
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Distributive justice is often considered not to belong to the scope of economics, but there is actually an important literature in economics that addresses normative issues in social and economic justice. A variety of economic theories and approaches provide many insights in these matters. Presented below are the theory of inequality and poverty measurement, welfare economics, the theory of social choice, the theory of bargaining and of cooperative games, and the theory of fair allocation. There has been a good deal of cross-fertilization between these different branches of normative economics and philosophical theories of justice, and many examples of such mutual influences are exhibited in this article. 1. Economics and Ethics The role of ethics in economic theorizing is still a debated issue. In spite of the reluctance of many economists to view normative issues as part and parcel of their discipline, normative economics now represents an impressive body of literature.…

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