100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
econ 317 midterm Terms in this set (26) Aristotle's definition of justice - what is lawful and fair (this is what is good) - what serves to promote happiness within the community (because humans are social creatures, goodness in relation to oth$8.99
Add to cart
econ 317 midterm Terms in this set (26) Aristotle's definition of justice - what is lawful and fair (this is what is good) - what serves to promote happiness within the community (because humans are social creatures, goodness in relation to oth
6 views 0 purchase
Course
CGFM - Certified Government Financial Manager
Institution
CGFM - Certified Government Financial Manager
econ 317 midterm
Terms in this set (26)
Aristotle's definition of justice - what is lawful and fair (this is what is good)
- what serves to promote happiness within the community (because humans are social creatures, goodness in relation to others is the prime virtue)
- sits above...
- what is lawful and fair (this is what is good)
- what serves to promote happiness within the community (because humans are social
Aristotle's definition of justice
creatures, goodness in relation to others is the prime virtue)
- sits above efficiency
- not an issues of how to allocate "given resources", rather how to secure the best use
Hayek's Economic Problem of Society of resources known to any members of society ... for ends whose relative importance
only these individuals know
Yes.
Are markets efficient?
(when competitive and free from outside influence)
- that it is useful to society
Hume's "sole origin of justice" - arises out of dual human nature (that everyone has individual preferences but are also
social beings dependant on each other) and living in a world of scarcity
- the rules about property and who gets what
What is justice? (Hume) - only emerges when it is useful... there are (somewhat unrealistic) situations in which
justice would not be required
- the problem at the heart of most liberal theories of economics: humans are selfish
Conditions of Justice (John Rawls)
individuals who rely on each other in a world of relative scarcity
1. Perfect Abundance - every individual is fully provided for
2. Perfect Benevolence - humans care as much about others as themselves
Hume's situations where justice is not useful: 3. Extreme want/threat - rules of justice are abandoned
4. People hold only malice towards others
*none of these extremes are real
Hume's distinction between charity and - charity can be taken away if the giver changes their preferences
justice - justice is something a person has a right to
Perfect Equality
- there are enough resources in the world that everyone could live reasonably well if
they were equally divided
Hume's main example of justice
BUT
"render possessions ever so equal, men's different degrees of art, care and industry will
immediately break that equality."
econ 317 midterm
1/2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Denyss. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
