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C. The Ftawlsian social welfare function was developed by the philosopher John Rawls as an assumption underlying his proposed solution to a particular problem: What
C. The Ftawlsian social welfare function was developed by the philosopher John Rawls as an assumption underlying his proposed solution to a particular problem: What kind of income distribution would you like the society you are born into to have if you don't know ahead of time where you will end up in the income distribution? (1) Assuming that the Rawlsian social welfare function is the one that each individual in the society trying to maximize. what income distribution will be chosen for the society? Explain why. (2) If you were solving this problem for yourself (assume you will continue to live in the U.S.), what distribution of total current US. income (about 26 trillion dollars) would you choose for society (about 332 million people)? Explain your answer. (3) Would your answer to (2) differ if total income were either larger or smaller? Explain your answer. (4) Would you rather live in a society with a Rawlsian social welfare function or a Nietzschian social welfare function? Explain why. Are \"winnertakeall" elections Rawlsian or Nietzschian? D. Write a paragraph (between a third and a half of a page) on each of the following topics. Use original (i.e., not from the book or from class notes, and not the same as anyone else's) examples. (1) Give an example of a production externality and explain how one could either use government intervention to improve the situation or would expect the involved parties to improve the situation themselves. (2) Give an example of a consumption externality and address the same issues as in (1). (3) Give an example of a \"tragedy of the commons\" and address the same issues as in (1) and (2)
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