Global Trends in Economic Justice

spheric Trends in economic JusticeIntroduction end-to-end this course, I continu bothy questioned my understanding of frugal conscionableice. With all that is changing by dint ofout our world, the spectrum of economical justice go away continually evolve, as interests, laws, human interactions, and g everywherening change. It was especially interesting to butt against that the majority of the estate falls in the top one percent of global wages, making and annual ain income of thirty four thousand. Which brings me to the issue of distress, and how the global rescue operates in a fundamentally unfair manner. Although our economy itself is improving and our nation is becoming stronger, this doesnt mean much when a signifi squeeze outt percentage of the macrocosm is seek to survive.We put one across discussed the theories and concepts of what is fair through three different views Libertarian capitalist economy, communism and eudaimonia State. I result discuss my inter pretation and personal reflections on economic justice in the world, and what I determine, based murder of our class discussions and readings, to be fair and just.My Personal ReflectionWhen discussions of destitution consumed the class, I decided to poke into the way the world focuses on what demands to be changed to better the economy and end poverty, mostly within the media, versus what is actually being done active this situation. There have been a lot of positive changes made throughout the world, first with Social Security after the Great Depression, to the now usual food stamps, un economic consumption insurance, doers compensation, earned income tax credits, and on and on. But at that place argon not enough jobs available to most Ameri cigarettes that pay above the lower limit wage. There is also not enough investment in command or skill development trainings. Although the minimum wage was never mean to support an entire family, due to the lack of education and ski lls, a giant percentage of Americans are only able to work where the pay is minimum. I feel that basic human rights and bigdoms are being compromised by allowing the poverty level to continually increase.I support a wellbeing produce and its ability to help those stricken with poverty, however I feel that there needs to be major changes before the governance ends up bankrupt, from the inability to control how much is going out versus what is coming in. Throwing money at the problem has not assisted in lowering poverty or making those who are in poverty, self-sufficient. Instead of making mint in poverty more than comfortable, we need to create more prosperity, to provide a way for these mass to get out of poverty. The more money that the join States spends on means assisting programs, it seems the poverty level increases, and according to president Barak Obama this cipher for these programs will only increase over time. The best way to increase wealth in this situation is through the power of a free merchandise. Protecting capital investments, giving people opportunities to start new businesses, uphold the failed government school system by supporting competition and choice, and in induction encouraging and educating the poor on how to save and invest. meagerness in the land vs three Approaches to Economic JusticeSince the beginning of the warfare on Poverty, government has spent enneadteen point eight trillion (in inflation-adjusted 2011 dollars) on means-tested welfare. In comparison, the cost of all military wars in U.S. history from the Revolutionary War through the current war in Afghanistan has been six point nine eight trillion (in inflation-adjusted 2011 dollars). The War on Poverty has cost three times as much as all other wars combined. (Rector, 2012) So what do we do? How do we make this fair and just? harmonize to Stephen Nathanson, in the book Economic Justice, there are three approachesLibertarian Capitalism rewards people for their efforts and contri scarcelyions, you can work hard and make more contributions but you dont always earn more than people who work less and contribute less. Supports private ownership, a securities industry system, supply and demand, inheritance, and charity.Socialism believes an equal distribution would frustrate despair, everyone has a share by moral excellence of their humanity, from each according to his ability, from each according to his need. (Nathanson, 1997) Supports public ownership, a mean economy, with a centralized publicly controlled system, and allocation based on need or the egalitarian principle.Welfare State Allows people to get leading by virtue of their efforts and contributions, while not judging them based on their success in the market, but that they have a legitimate pack to near resources. Supports primarily private ownership, a market system with some government intervention, and allocation based on some share of resources, market values and g ifts.Libertarian Capitalism on PovertyDespite the fact that states have long been globalized in terms of their economic relations, it is only in juvenile years that scholars have begun to pursue the problem of distributive or economic justice on the wider stage provided by world politics. (Kapstein, 2006) The past 25 years have witnessed the greatest reduction in global poverty in the history of the world. The credit goes to the spread of capitalism. Over the past a couple of(prenominal) decades, developing countries have embraced economic-policy reforms that have cleared the way for private enterprise. (Irwin, 2014) evening philosopher Adam Smith described the economy as a commercialised society. Capitalism carrys to cause some issues with regards to the poverty level because it encourages companies to shut pour down their factories and invest their money elsewhere, leaving people without a job. It basically is all about accumulation of wealth. Charles Murray suggests that pe ople are in poverty because something in them is missing, and he believes that liquidating the welfare and government programs would leave those in poverty utilise these crutches, only the resources of the job market, friends, family, or private or topical anaestheticly funded services, encouraging use their merit and earn.Socialism on PovertyIndividualism is promoted and views on capitalism from a fondist point of view is that of tyranny. They also tend to demand what the rich save and encourage wealth distribution through social entitlement programs, and because fair is never defined it cannot be measured. This view also likes to focus on production for need, not profit. They approve of increased and grow government welfare assistance, as well as free tint education in a safe and secure environment. Socialism will establish a new social and economic order in which workers and community members will take responsibility for and control of their interpersonal relationships, thei r neighborhoods, their local government, and the production and distribution of all goods and services. (Socialist Party ground forces 2013-2015 National broadcast , 2014) Socialist believe that poverty is caused by the natural workings of a capitalist marketplace that has always excluded a significant part of the population from decent jobs and, thus, from the ability to purchase on the private market goods obligatory for a decent biography for themselves and their children.Welfare State on PovertyIt is a theory that affords for the total security of its residents and is similar to socialism. It provides entitlement programs and some social insurance to its residents, and provides for persons in need, through an unnumbered amount of programs known as welfare. Welfare incorporates government programs that provide benefits and economic assistance to Americans with little or no income. One of the main goals of welfare in the United States, is to mitigate the quality of living sta ndards and life, for the underprivileged. Welfare help is usually extended to people other than just the poor and underprivileged and includes students, unpaid workers, caregivers, mothers and the elderly. One of the foundations of this state is personal liberty, and dependency on a government agency for pecuniary assistance can detract from this feeling, and way of life and move into more of a welfare state condition.Below is a 1940s survey of William Beverage the founder of the Welfare State waiving a wand over big giant wants. People got used to living the easy life with all the benefits and they became dependent. Social policy has come to be driven by the very policies that the welfare state was supposed to replace.Poverty in the welfare state, even with all the additional benefits provided, to those with lower or no income, is nonoperational increasingly high. One reason is because there are some things that the welfare state cannot control, for exampleBeing disadvantaged i n the labor marketCant end inequalityCannot guarantee full employmentCannot provide stable marriagesWe have to remember that welfare was not created for the poor, it was created to prevent people from becoming poor.ConclusionThe many issues and opinions with Capitalism, Socialism and the Welfare State, and the cause of each on poverty are almost one sided. everywhere you research you will find that each is to its own. So I came to the conclusion that what is fair in economic justice with regards to poverty is that the government should play along with the welfare state, fund those in need, and continue to fight discrimination, to the best of its ability. With that said, I dont believe in our lifetime we will see a major change in the poverty level, as our country continually accumulates debt to defend the underprivileged. So what is fair in this case is just making sure that everyone has an equal chance and opportunity to make a better life for themselves. This includes state an d government funded programs that can provide people with the opportunity to better themselves. There needs to be better regulations and a limit to the amount of help one person or family can receive, so that each person isnt just living off the government and increasing taxes for those that work. We as a country, especially with the new Obama safeguard laws are working to find a suitable solution to decrease poverty, however, sharing the worlds wealth has never been an easy issue to address and correct. It will take a lot of time and effort, and newer more suitable laws that protect the working class as well as the underprivileged in an equal manner before I believe that there can be a major change in poverty.ReferencesIrwin, D. (2014, November 02). The Ultimate orbiculate Antipoverty Program. Retrieved from The Wall Street Journal http//www.wsj.com/articles/douglas-irwin-the-ultimate-global-antipoverty-program-1414972491Kapstein, E. (2006). Economic Justice in an raw WorldTowa rd a Level Playing Field. New Jersey Princeton University Press.Nathanson, S. (1997). Economic Justice. Pearson.Rector, R. (2012, May 03). Examining the Means-tested Welfare State 79 Programs and $927 Billion in annual Spending. Retrieved from The Heritage Foundation http//www.heritage.org/research/testimony/2012/05/examining-the-means-tested-welfare-stateSocialist Party USA 2013-2015 National Platform . (2014, December 10). Retrieved from socialistparty-usa.net http//socialistparty-usa.net/platform.htmlYates, M. (2004). Poverty and Inequality in the Global Economy. Monthly Review, 55(9).