SOCY 15 Lecture Notes - Lecture 3: Amartya Sen, Fair Division, Distributive Justice
Document Summary
China didn"t watch (when we want to see their reaction) Global income inequality: richest 1-2% owns about half of the world"s wealth (48%) Stay rich by collecting money from loans, taxes, etc. (2 trillion) Globalization for some creates a bigger economy, and more areas to share ideas, resources, areas of activity that they wouldn"t have had access to. The central issue is not whether a particular arrangement is better for everyone than no cooperation at all would be, but whether that is a fair division of the benefits sen, p. 6. Economist think about how power matters in the econ. market and how it can lead to economic stratification. Markets can deliver all these god things globalism offers, but, only under certain conditions within cooperating. Fair market requires: enabling conditions & institutions providing public goods: Health, land reform, credit, tech, education, legal protection. Sins of omission ( things we don"t do) & sins of commission (things we do)
