The effects of globalization have created an increasingly disparate division between the distributions of wealth in the world. The ownership of land, industry and natural resources is in the hands of large multinational corporations and the wealth of the world is in the hands of a few. The problem is of justice and economic distribution. This is sometimes called distributive justice.
Relevant questions to think about as you form your analysis include: What is fair and just in the distribution of the costs and rewards of an economic system? What different principles of distribution can be used, and what are the consequences of each different scheme or principle? Should some versions of laissez–faire be adopted, or should communitarian/socialist scheme be used? DO not ansswer these questions in the LAs, they are just “food for thought; answer only the questios below, please. (Helpful principles to discuss, Utilitarianism, John Rawls’ Theory of Justice, Robert Noziack’s libertarianism, Adam Smith’s invisible hand, Marxist (secular) or Christian, Jewish , Islamic socialism)
Considering all the comments above, respond only to the following questions (not the questios above) in depth ( 2-3 paragraphs PER question); use in text cites
1. What are some ethical issues related to this area of wealth distribution? Be specific and identify issues with single words or phrases (not problems or dilemmas – review Student Toolbox for examples and information).
2. Should there be government regulation in this area of distribution of wealth, and if so how much and what type of regulation?