According to John Rawls’s difference principle, wide variations in inc

QUESTION

According to John Rawls’s difference principle, wide variations in income and wealth can be considered just if the market-based system that produces this unequal distribution also benefits the least-advantaged members of society.

Indicate whether the statement is true or false.

ANSWER

TRUE
Wide variations in income and wealth can be considered just if the market-based system that produces this unequal distribution also benefits the least-advantaged members of society. One can argue that a well-regulated, market-based economy and free trade, by promoting economic growth, benefit the least-advantaged members of society. In principle at least, the inequalities inherent in such systems are therefore just.