USC Philosophy of Economics Discussion

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ceboylcebonoyr

Humanities

University of Southern California

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Which is ultimately most plausible: an egalitarian, prioritarian, or utilitarian social welfare functional? Choose and explain one of these options and defend your choice.

Explanation & Answer:
500 words
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Explanation & Answer

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1

Philosophy of Economics
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Philosophy of Economics
The selected theory is egalitarian, emphasizing that all humans are equal in moral status
and should all be treated as equals and be accorded exact equal rights. In economics, egalitarian
advocates for the removal of economic inequalities through redistribution of income and wealth
and encourage decentralization of power. Egalitarianism encourages equality of opportunity,
especially with the rise of the current competitive market economies, where the person who
promises the greatest value (profitability) gets the opportunity. In other words, the rewarding
system in egalitarian is based on merit rather than hierarchical positions and ranks. Considerably,
the applications to opportunities are open, and all applicants are offered similar conditions and
standard relevant criteria, which is used to identify the participant with the highest score.
Egalitarianism encourages equal wealth distribution and access to money, which means
that it eliminates the existing notion and perceptions that only a few people should be entitled to
wealth. In a broader sense, the concept of egalitarianism means that every person has equal
chances of making money and wealth in free markets depending on their business skills and
entrepreneurial efforts. The main reason why egalitarians would be successful in wealth creation,
distribution, and accessing the money is encouraging sufficient and appropriate compensation for
services offered or efforts made through an effective, rewarding system. Additionally, the
customers have equal rights to purchase or acquire services from any provider they patronize
without being convinced otherwise.
Egalitarian advocates for...


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