We live in a mixed economy, one which combines elements of a planned economy and a capitalistic free market economy. If society were to be a pure planned economy, then society would not receive the benefits that a free market presents. To illustrate, it would be impossible for the USA to suddenly become a pure planned economy because there are already many who enjoy the benefits that our current economic system provides. By allowing some leeway for inequality, Rawls’ philosophy remains realistic and relevant. Lastly, because Rawls’ principle encourages business to care for society’s least advantaged, businesses will have a sense of obligation to give back to society. Concrete examples include: donating food to homeless shelters, funding the construction of infrastructures in rural areas, and providing funding for students who can’t afford higher education. Essentially, this principle acts as a reminder as to why businesses should take part in helping
We live in a mixed economy, one which combines elements of a planned economy and a capitalistic free market economy. If society were to be a pure planned economy, then society would not receive the benefits that a free market presents. To illustrate, it would be impossible for the USA to suddenly become a pure planned economy because there are already many who enjoy the benefits that our current economic system provides. By allowing some leeway for inequality, Rawls’ philosophy remains realistic and relevant. Lastly, because Rawls’ principle encourages business to care for society’s least advantaged, businesses will have a sense of obligation to give back to society. Concrete examples include: donating food to homeless shelters, funding the construction of infrastructures in rural areas, and providing funding for students who can’t afford higher education. Essentially, this principle acts as a reminder as to why businesses should take part in helping