Rawlsian Economics

Rawlsian economics is based on philosopher John Rawls’ idea that social and economic policies should be designed to benefit everyone, especially those worst off. It emphasizes fairness and justice by imagining policies under a "veil of ignorance," where decision-makers don't know their own position in society. The goal is to create a system that minimizes inequality and ensures fair opportunities, so that even the most disadvantaged members are better off. It encourages designing economic structures that prioritize equity and social justice, promoting a fair distribution of resources and opportunities for all individuals.