Justice in Compensation

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Presentation transcript:

Justice in Compensation By: Ronald F. White, Ph.D. Professor of Philosophy

Introduction College Professors Surgeons Professional Athletes

Theories Patterned Theory of Compensation Unpatterned Theory of Compensation

Patterned Theory of Compensation Stakeholder Theory Material Theories of Justice Merit Need Equality Utility Welfare Liberalism John Rawls Social Minimum Difference Principle

Unpatterned Theory of Compensation Stockholder Theory Free Market Ownership of Corporation Contracts Voluntary Competition Free Entry Free Exit

Issues Monopolies Minimum Wage Executive Compensation Natural Artificial Unions (collective bargaining/global markets) Cartels Minimum Wage Executive Compensation Agency Issues Stakeholder Theory Fairness Utility Stockholder Theory Privacy- Transparency-