Module 3 (Adamczak) Theories of Justice

Theories of Justice Utilitarianism : “The maximization of happiness ultimately determines what is just and unjust.”(Shaw 87) Libertarianism : “…Justice consists in permitting each person to live as he or she pleases, free from the interference of others.”(Shaw 90) Egalitarianism : “…Justice must be associated with fairness and the moral equality of persons.”(Shaw 97)

Can it ever be unjust to accumulate wealth? Utilitarianism Viewpoint From the utilitarian perspective, accumulating wealth in itself isn’t bad as it is maximizing your happiness. When it comes to the effects of maximizing wealth, utilitarian's would argue maximizing wealth is unjust. Based on the declining marginal utility of money “… successive additions to one’s income produce, on average, less happiness or welfare than did earlier additions.”(Shaw 89) It would be unjust to accumulate money as you would gain less happiness from the money than if you were to give it to a less fortunate person.

Continued… Libertarianism Viewpoint: “… people are entitled to their holdings (that is, goods, money, property) as long as they have acquired them fairly.”(Shaw 91) Basically saying that as long as you accumulated your wealth without infringing on other peoples Lockean Rights, you can save or spend your wealth as you please. This viewpoint argues that accumulation of wealth is just, even when others are going hungry.

Continued… Egalitarianism Viewpoint: The egalitarian theory of justice uses objective reasoning and the maximin rule to decide if things are just. According to Rowl’s second principle “… economic inequalities are to… be to the greatest expected benefit of the least advantaged members of society.”(Shaw 101) This principle would rule that accumulating wealth is unjust as it does not benefit anyone except for the singular person. On the other hand if the accumulation of wealth was to set up a trust for a charity contributing to the least advantaged members of society it would be considered a just action.

Works Cited Shaw, William H. Business Ethics. 8th ed. Boston, MA: Wadsworth, Cengage Learning, 2014. Print.