Reflection Paper Social and Economic Justice

Reflection Paper Social and Economic Justice

REFLECTION PAPER: SOCIAL AND ECONOMIC JUSTICE 4

ReflectionPaper: Social and Economic Justice

ReflectionPaper: Social and Economic Justice

Thetopics covered by the speaker are of importance in the achievement ofa socially and economically equal country. Two of the mostsignificant topics discussed are social justice and economic justice.The concept of economic justice is important in the achievement ofsocial justice. In my opinion, economic justice is a part of socialjustice, because a nation cannot achieve economic justice, if thereis no social justice. A perfect example is what is given by thespeaker that earnings create economic justice, where a person earnswhat he or she should earn as per value he brings. However, I thinkthis justice of earning what one works for cannot be achieved ifthere is no social justice in the society.

Atthe same time, economic systems operate in an environment that iscontrolled by the political system. Therefore, the two importanttopics of social justice and economic justice are influenced by thepolitical system in a country. The example given by the speaker setsthis point straight that United States operates in a democracy whereone man has one vote. That gives all citizens an equal opportunity inthe political system. The ideal expectation would be that social andeconomic justice would be observed in a country where there is aneffective political equality of democracy.

However,the political system impacts on the social and economic space in anunequal manner. This is because there are inequalities between thepeople in the country. These inequalities are economic in nature, andlead to social inequalities. I think that the social inequalitiescreate social classes that determine the economic performance of aperson. At the same time, the economic output influences the socialstatus. Therefore, the social inequalities and economic inequalitieslead to the two aspects of injustices the guest speaker discussingeconomic justice and social justice.

Economicequality should lead to social equality because of the equality inthe voting system of the political system. I think if this happens,then economic justice can lead to social justice. However, this canonly be observed if a country can have the interaction between beeconomic performance and social levels leading to equality. In ademocratic society, the ideal way should have equality in social andeconomic aspects because of the equal levels of political systemmarked by one man one vote. However, this only happens in an idealsituation where everything works perfectly.

Wherethere is no economic justice and social justice, there is no socialand economic equality. As a result, the society experiences economicstressors such as high interest rates and poor stock market system.The extreme effect of this situation was experienced during the 1920sand 1930s during the Great Recession. The stock markets went down andemployment levels decreased greatly. As the economy slowed down, thesociety was divided between the rich and the poor. This illustratedthe effects of social injustice and lack of economic justice throughinequalities.

Therefore,the government should protect equality in social and economic aspectsof the economy. At the same time, economists should use the pastinformation to create an outlook about the future. Unlike the speakerwho asserts that economists are not trained to predict, I thinkeconomists have a responsibility to evaluate the past, consider thepresent and formulate a future outlook. This can be done by observingthe economic fundamentals of social and economic aspects. Thisobservation reveals how the country observes social and economicjustice to attain equality. If economic justice and equality are notobserved, these extremes of social and economic inequality affect theeconomy and the society.