Tuesday, October 3, 2023

Strong Justice Systems Lead to Economic Growth (Moral and Economic Development)

Justice is an important concept in our society and supports the moral and economic development of our nation. Supporting a strong justice system leads to higher economic growth through engagement and business trust. It is a type of glue that binds society together through a shared understanding the framework in which people live their lives and conduct day-to-day business activities. In economic development of clusters, a strong justice system can lead to economic growth through creation of healthy social and economic environments. Regardless of one's background we should always support enhancement and functioning of world class justice systems because in many ways every societies social and economic futures rely on it (All systems are collectives of trust based transactions and essential justice ensure such systems function properly at their root.)

Allegory of Justice
Gaetano Gandolfi (1734-1802)
Representing that
justice is central to healthy
and free societies that flourish.
A higher and universal moral conscious order.
I'm a supporter of the justice system and its strong functioning as an aspect of encouraging growth. Adam Smith a leading economic philosopher in which much of capitalism is based is also a supporter of justice so as to  protect the fundamentals of the economy like property rights, civil rights, contractual rights and a general safe social exchange. Adam Smith, Justice and Economic Development.  Keep in mind that business and economic development are not unhinged from morality and ethics. You may also consider a discussion on human rights and overall development. Economics and Human Rights 

Two Hypothetical Examples:

Example 1:Let us say that one business cheats another business and the dispute can't be resolved amicably between the two parties. If both groups trust the system they will use this resources to resolve such issues. If they do not then they won't use that resource and issues will spill into other areas. Strong justice/judiciary systems enhance the general trust in the total system and encourages economic development through shared perceptions of fairness (i.e. the moral authority to decide).  Business itself down the roots of exchange within individual transactions are based in trust. Break that and you begin to break the system down. Trust in Business Transactions.

Example 2: People within systems expect local systems to be fair and understand the bigger purpose of their roles. When this doesn't occur it impacts the total functioning of the system through unfair and disparate treatment that leads to social conflicts. For example, corruption or decisions based on racial, religious, political or ideological reasons would lead to mistrust and in turn lower future investments and retard broad based economic engagement through disparity in outcomes and laws. Holding corruption to account and mistreatment in civil rights will create actualized outcomes in growth.  Human Rights and Economic Growth

On a Federal Level you see strong effort to ensure justice functions in the best interest of everyone and by secondary influence the economic development of society. This is one reason why the U.S. attracts strong investment because of general trust in fair contractual enforcement and our traditional human rights record. Report Card Human Rights That does not mean that all systems function at their optimal at local levels where other concerns may have more influence. Where they don't or there are different laws for different people, or worse rewarding illegal behaviors, we have a moral and economic responsibility to adjust to maintain the health of the whole system. DOJ 2022-2026 Plan

*These articles are designed to open thoughtful discussions for understanding purposes.

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