There are three types of challenges corresponding to the three components of social economics as articulated by William Waters in his 1987 Presidential Address to the Association for Social Economics and as mentioned previously in Chapter One. The three components are: (1) philosophical foundations or premises, (2) a careful description of the economy as it truly is, and (3), economic policy. Waters views the third component as deriving from the first two in a way that bears a personal imprint [Waters, p. 130].
KeywordsDistributive Justice Social Economic Economic Reality Human Material Economic Affair
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