What Does Rawls Mean by Stating That "A Departure from the Institutions

question 2

Essay

What does Rawls mean by stating that "a departure from the institutions of equal liberty required by the first principle cannot be justified by, or compensated for, by greater social and economic advantages"? Do you agree with Rawls? Explain your answer.

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Definitions:

Quantity Equation

An equation that relates the quantity of money in an economy to the nominal value of economic output, often used in monetary theory to predict inflation.

Money Supply

The total capital resources in monetary terms within an economy at a certain time.

Price Level

An index of the aggregate prices of all goods and services in an economy, often measured by a consumer price index or GDP deflator.

Inflation Tax

An implicit tax where the government benefits from inflation by reducing the real value of public debt, but it also reduces the purchasing power of money held by the public.