Question

Is a major rethinking of the current social contract crucial? give example and explain the question.

Answer 1

Social contract theory says that people live together in society in accordance with an agreement that establishes moral and political rules of behavior. Some people believe that if we live according to a social contract, we can live morally by our own choice and not because a divine being requires it. Different nations have different priorities. Governments of developing and developed countries have varied implications of their countries regulations and policies. They are compounded with various distrusts and anger between their local authorities which led countries to be in such a financial crisis that it had become quite challenging to recover from them. These regulations and policies vary from country to country. It is vital for any nation to be able to sustain itself in the fast-growing technological world and to do so, they need to be able to prioritize their politics in such a way that, it can benefit the society for sustainable periods of time. The development of their economy will be optimized if they have a social contract that will provide the citizens with a greater sense of security and confidence in the face of the coming changes. Many accuse globalization and innovation, yet I would concentrate more on the disappointment of our social contract to oversee appropriately the outcomes of both. Our Social Contract—by which I mean the rights and commitments of citizenship—has distressed because of hyper-globalization and the magnitude that followed the financial crisis. The development of computerization and increasing globalization have driven down the wages of less talented workers. Thus, many call for more protectionism or then again allege immigrants. The rethinking issue of the current social contract should be given the utmost importance. A new social contract that adapts to the changing economic situations and the ability to better manage the social implications of globalization has become a necessity. The new social contract should include the installment of duties for trade for open merchandise, and the way that society takes care of the old, the youthful, the sick, and the individuals who have run into hardships. Since the social contract is essentially values-driven, arrangements will change across nations. Moreover, all societies should be aware of who is benefitted from their social safety nets. As well as, every society will also have to be able to handle the division of responsibilities between the family and the voluntary sectors, the market, and the state. This is very much vital for the welfare of the societies as a whole and makes sure that there is equality between the treatments of all citizens for them to be able to participate in society.