Equity and Welfare: An Analysis of Resource Allocation for Disadvantaged Individuals from The Perspective of Rawlsian Theory of Justice
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Resource allocation policies play a crucial role in promoting equity and welfare among disadvantaged individuals. This paper attempts to investigate how rational decision-making processes by governments in public policy influence the livelihoods and socio-economic status of disadvantaged individuals. We explore the complementary nature of the Rawlsian theory of justice and market theory to develop comprehensive policymaking approaches that balance fairness, efficiency, and market mechanisms. By examining the case of weighted student funding strategies, this study aims to provide insights for policymakers in developing effective resource allocation policies to tackle the issue of socio-economic inequality.
resource allocation, disadvantaged individuals, Rawlsian theory of justice, equity, welfare, weighted student funding