Question

In: Economics

Describe and discuss various ideas and ideologies concerning social ethics/justice/equality. Do so one by one and...

Describe and discuss various ideas and ideologies concerning social ethics/justice/equality. Do so one by one and itemize your answer”

1. Socialist-communist
2. Utilitarian
3. Existentialist

Solutions

Expert Solution

  • Socialist-Communist : Socialism and Communism are political, social, economical and philosophical tools which helps in promoting equality (against Capitalism, where industries, business, factories are controlled by private owners for their personal profit rather than the profit of economy as a whole) and helps in eliminating hierarchical caste system in our income based society. The goals of both tools are same but they can be used for different purposes. Communism says that conflicts in society arises through economic disparity between working class and capitalist, they think that it should be removed for maintaining equality in the economy. It says there are no more difference between rich and poor (everyone is economically same), they get whatever they wants. No one can get more if they work more. Shifting working class to capitalist is the primary role of Communism. The question here arises is that is is beneficial for healthy economy ? It totally depends on the economy, if there is a huge disparity between people in that economy then applying Communist theories is beneficial, otherwise it can leads to big disaster to an economy. If everyone is getting everything according to their need, then there is no incentive to earn, no incentive to innovate, no incentive to learning; because everyone is getting what is necessary for survival. In this case applying Communism theories is hilarious. Socialism, on the other hand, is an system where everyone have economically equal means of production where government of the country plays a major role. It helps in distributing resources equally. This system says everyone gets paid equally according to their individual contribution, so that there is less income disparity. There are no countries in world which have pure socialist or communist society, every country have mixed socialist-communist economy i.e. everyone gets salaries/paid according to their means of production(socialist), salary is equal if they have done same quality of work(communist).
  • Utilitarian: Utilitarian philosophy is claims those actions which maximize your happiness, internal satisfaction, pleasure and maintains a gap from those which cause unhappiness, sadness, anger. Basically it works for betterment of society and try to maximize the utility of life. Happiness/sadness cannot be described in real terms but yes it can be measured through HDI(Human Development Index) for an economy.
  • Existentialist: This is a philosophical study which focuses on how do we feel different, how do we think, how do we respond, how do we act and importantly how do we live. There are several proponents of this:

(a) Authentic: It is sometimes related to be-you and individualism, if you are authentic, then there are possibilities that you are standing different from the queue and you have different views for a particular topic. Being real is sometimes it takes to do everything making possible.

(b) Freedom: It says that your views, opinions, thinking have no boundaries from others, you are free to think, say anything you want according to democracy. You are free to

(c) Existence: The word Existentialist makes clear "Existence". You are here to prove your existence, not existence from material things but existence as a human.


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