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It values profit maximisation over social welfare, individuals over communities.
In order to improve their economic welfare, individuals use their social relations which are regarded as an individual and a collective good.
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These commitments form the basis of his contractarianism: If a social institution improves the welfare of individuals as they see it, it should be possible to secure individuals' agreement to it.
Or the welfare of individuals?
They can contribute to the welfare of individuals by, for example, serving the poor and vulnerable.
How is the 'warehouse culture' affecting rates of job satisfaction and the welfare of individuals?
States are required by law to have programs in which they can assure the health and welfare of individuals.
To this end, he developed several indices with which to measure the welfare of individuals in society.
"Many of the recommendations are consistent with current initiatives to better protect the safety and welfare of individuals served by the department," he said.
As one of the most important political economists, Adam Smith analysed the dynamics of wealth of nations and welfare of individuals and societies.
In the same way homeownership provides positive externalities, losing the home to foreclosure brings with it negative externalities, which significantly affect the welfare of individuals, families, and communities.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com