Name the Four Background Institutions for Distributive Justice That John

question 18

Short Answer

Name the four background institutions for distributive justice that John Rawls describes as "four branches of government".

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Definitions:

Exiting Industry

Refers to the process of firms leaving a specific market or sector, typically due to factors like unprofitability, competition, or changing market conditions.

Minimize Losses

The strategy or process of reducing the amount of losses incurred by a business, investment, or action as much as possible.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance, remaining constant regardless of business activity levels.

Self-actualization Needs

According to Maslow's hierarchy, the highest level of psychological development where an individual reaches their full potential.