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Economic justice is another highly important ethical issue. In the United States, over 46 million people live in poverty. BTW -- do you support the idea of social justice? This concept is not new. It is connected with Thomas Aquinas’ natural law thinking. As you complete the reading assignment, ask yourself if society as a whole is affected by poverty. Also, do you feel that everyone is entitled to a decent life?
In this session you will explore various ethical considerations and perspectives related to economic justice. This will involve revisiting Mill’s utilitarian ideas, and hypothesizing what he might have to say about economic justice. You will also consider the issue from a deontological perspective (you may recall that Kant placed a strong emphasis on respect for human dignity). Perhaps Rawls' thinking will align well with your own (Rawls believed that a just society would not allow any individual to sink below the minimum level of what is needed for survival).
Write a journal entry (approximately 200 words). Your journal entry should interpret the strengths and weaknesses of one (or more) ethical viewpoints discussed in the reading assignment.
Your entry should also share your personal ethical views on the issue(s) presented in the reading assignment.
Issues presented: Economic Justice
If the interest rate is 5%, what is the present discounted value of receiving $100 in two years? If the present discounted value of $100 received 3 years from now is $81.63, what is the interest rate?
A firm charges $800 per unit for its unique solar panel. If total revenue is $56,000 in July, how many solar panels were sold in July? (Hint: How do you calculate total revenue?)
An investment of $1.5 million is made at time zero with annual revenues of $600,000 in year 1, growing at a rate of 15% annually over a seven-year horizon. Annual operating and maintenance costs are estimated at $150,000 per year increasing every yea..
If you'd asked anyone few years ago what is the safest long-term investment, the answer would have been real estate, unequivocally. The housing boom of early 2000's has fueled the growth of many career in real estate, from appraisers and real estate ..
As a professional tennis player, an individual earns $300,000 per year. If employed as a model, the next-best option, this person would earn $120,000 per year. What is this tennis player's economic rent (profit)?
Describe the factors that influence wage setting. Write down the equation that represents wage setting, describe the effect of each factor in the equation/function, and draw the corresponding diagram. Clearly state the assumptions behind your analysi..
Suppose Helen works at a bakery where she bakes bread and cakes. Each hour she devotes to baking bread yields 4 loaves and each hour she devotes to baking cakes yields 8 cakes. What is Helen’s opportunity cost of baking one loaf of bread?
Suppose the supply curve is Q=2P. Suppose there is no sunk cost. what is the producer surplus if 10 units of the good are sold at price P=5. graph the supply curve, P=5, and the area of the producer surplus
Suppose the civilian non institutionalized working age population is 35.9 million in Laborland, 4.4 million are working part time, and 13.19 million are working full time. Laborland used the Bureau of Labor Statistics (BLS) definitions for unemployme..
If all of the big tech companies in Silicon Valley (Apple, Facebook, Google) go to college campuses to interview the 2017 graduates, only to (ironically) find that they are mostly dim-witted fools who are hypnotized by their iPhones and can't last..
What are exclusive territories (ET)? Explain 4 reasons why a manufacturer would be willing to grant an ET to a dealer? Under what circumstances are ET in the public interest? Discuss the possible impacts of car manufacturers granting ET to their car ..
What are the likely consequences on the U.S. market for tobacco products for each of the events listed below? Would the supply curve or the demand curve shift? The Food and Drug Adminstration classifies tobacco as an "addictive substance.' The congre..
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