International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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The Interplay of Economics and Social Justice: From Wealth Creation to Fair Distribution

Author(s) Prof. Dr. Adhir Kumar Gupta, Adv. Pragati Gupta
Country India
Abstract Economic growth has traditionally been celebrated as the primary indicator of national progress. However, unregulated wealth creation often exacerbates inequality, leaving large segments of society excluded from the fruits of development. This article interrogates the tension and potential reconciliation between economics and social justice. Drawing on classical and modern theories from Adam Smith’s advocacy of markets to Marx’s critique of capitalist accumulation, Rawls’ principle of fairness, and Amartya Sen’s capability approach, it situates distributive justice at the heart of economic thought. The Indian constitutional vision, with its emphasis on equality, dignity, and socio-economic rights, further demonstrates that law and economics must function in tandem to achieve justice. Using comparative insights from welfare states in Scandinavia, liberal capitalism in the United States, and the mixed model in India, the article critically evaluates whether wealth creation and fair distribution can coexist. It argues that economic policies divorced from justice create structural inequality and social unrest, whereas policies rooted in equity foster sustainable development. Ultimately, the paper contends that economics must move beyond the pursuit of efficiency to embrace social justice as an essential benchmark of legitimacy.
Keywords Law & Economics, Social Justice, Welfare Creation, Fair Distribution, Economic Policies, Socio-economic Rights
Field Sociology > Education
Published In Volume 7, Issue 5, September-October 2025
Published On 2025-09-17
DOI https://doi.org/10.36948/ijfmr.2025.v07i05.56122
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E-ISSN 2582-2160
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