Justice pp 47-84 | Cite as

Economics and Justice

Part of the Critical Issues in Social Justice book series (CISJ)


In the Western European cultural tradition, the attempt to define and clarify justice as a social and moral concept received its classic formulation in Book V of Aristotle’s Nichomachean Ethics. According to some authorities, most notably Joseph A. Schumpeter (1954, pp. 60–62), Book V is also the locus classicus for an early but not notably felicitous effort to understand the connection between the demands of justice as a moral virtue and the ethical problems encountered by a society that relies on market relationships for the organization and coordination of economic activity. Though he may not have succeeded in answering them, Aristotle does indeed bequeath a series of basic moral questions to those successors of Adam Smith in the tradition of mainstream economics who have tried to articulate the justice imperative as it relates to a private-property, market economy.


Distributive Justice Neoclassical Economic Moral Imperative Mainstream Economic Capital Equipment 
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Copyright information

© Springer Science+Business Media New York 1986

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of Notre DameNotre DameUSA

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