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The role of social institutions in ensuring justice in the modern market economy

The role of social institutions in ensuring justice in the modern market economy

Journal of Institutional studies, , Vol. 5 (no. 2),
p. 64-68

The author explains the social institutions role in ensuring social justice in the modern market economy. The institutional component is shown in terms of limitations of perfect competition. Functions of institutions for social justice are associated with the two sides of justice theory: the procedural which promotes equality of economic opportunity, and structural that is driven by the final distribution.


Keywords: social justice; market coordination; competition; social institution; equality of economic opportunities; justice in the distribution

References:
  • Kozlowsky P. (1999). Principles of Ethical Economy. St. Petersburg: The School of Economics. (in Russian).
  • Rich A. (1996). Economic ethics. M: Seeding. (in Russian).
  • Rawls J. (2010). Theory of Justice. M.: Publ. House of the LCI. (in Russian).
Publisher: Ltd. "Humanitarian perspectives"
Founder: Southern Federal University
ISSN: 2076-6297