Economists and the Justice of Economic Systems: An Analysis from the Perspective of Political Ethics

Author: Chen Zey
Publisher:
Publish Date: 2007-01-01
Features: Historical practice has proven that the effective functioning of institutional functions is closely related to the degree of justice inherent in the institutions themselves and the justice values they embody. "Institutional justice" is essentially a value—it refers to the value or spirit embedded in the institutions themselves and permeates all aspects of their formulation, implementation, and supervision, ensuring that stakeholders receive what they deserve and pay what they should. With the proposal and implementation of the concept of sustainable development, the institutional justice of China's socialist market economy should extend the value of justice to broader, newer, and higher dimensions. This means not only improving the value of justice in interpersonal relationships but also encompassing the novel content of justice in the coordinated development between humans and nature. The institutional justice of China's socialist market economy in the contemporary era should include three major goals: the equal distribution of basic social rights, adherence to the principle of efficiency, and the principle of the majority. Achieving the institutional justice of the socialist market economy is not just an issue of system construction but also a matter of personal perfection. Realizing the institutional justice of China's economic system in the contemporary era also places corresponding demands on the moral character and quality of "economic man." The current state of justice in our property rights system and income distribution system needs improvement. Enhancing the justice of the income distribution system requires strengthening the government's role in system construction and improving the mechanism of redistribution. To enhance the justice of the property rights system, it is necessary to accelerate the innovation of state-owned enterprise supervision mechanisms.