The maximin criterion suggested by Rawls's theory of justice means that the government should aim to ?
Correct answer: B. Maximize the well-being of the worst-off person in society
- A. Maximize the total utility of society
- B. Maximize the well-being of the worst-off person in society
- C. minimize the difference between the rich and poor
- D. maximize the economic freedom of individuals by minimizing government interference in private decision making
- E. minimize the well-being of the best-off person in society
Explanation
Rawls's maximin criterion evaluates social arrangements by the position of the least advantaged member. Thus, the aim is to maximise the well-being of the worst-off person, not merely to minimise income differences.
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Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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