New economic theories
3 important questions on New economic theories
Veil of ignorance
All people are biased by their situations, so how can people agree on a "social contract" to govern how the world should work.
- How did Philosopher John Rawls suggest we should approach this?
- Philosopher John Rawls suggests that we should imagine we sit behind a veil of ignorance.
- The veil of ignorance keeps us from knowing who we are and identifying with our personal circumstances. By being ignorant of our circumstances, we can more objectively consider how societies should operate.
Negotiating the social contract behind the veil of ignorance ensures two things.
- What are those two things:
- Impartiality.
- Egalitarianism.
Homo economics
- How are humans portrayed in this theory?
- As agents who are consistently rational and self-interested, and who pursue their subjectively - defined ends optionally.
> Doughnut economy -> From homo economics to adoptable humans.
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