MGMT 1040 Chapter Notes -Wilt Chamberlain, Economic Mobility, Sociality
18 Mar 2014
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Document Summary
It wasn"t until the first quarter of the 20th century that the government began taxing corporate earnings and personal income. The capitalist elites pay for the bulk for the country"s taxes. Because this most of our countries income goes to them (subsidies, bailouts etc. ) Inequalities result in less income mobility and a more rigid hierarchy. The terms just" and unjust" are too vague. Justice is frequently thought of as meaning fairness. Equality is also seen as an attribute of justice. Justice is an important subclass of morality. Counter argument for equality: if there was equality of income", people would be less inclined to perform at their maximum capabilities. Norms and principles dictate how resources should be distributed. Maximization of happiness determines which actions are just and which actions are unjust. Promotes an economic system that maximizes goodness. Under a utilitarian approach, a cost benefit analysis is used to assess available options.
