Abstract

Recent scholarship has considered the requirements of justice and economic regimes in the work of John Rawls. This work has not delved into the requirements of justice and liberal socialism as deeply as the work that has been done on property-owning democracy. A thorough treatment of liberal socialism and the requirements of justice is needed. This paper seeks to begin to fill this gap. In particular, it needs to be shown if liberal socialism fully answers the requirements of justice better than property-owning democracy. It will be argued that liberal socialism does significantly better in realizing the two principles. This paper has the following structure, first, an overview of Rawls' position on economic regimes, capitalism, and the requirements of justice will be presented. In particular, how the two principles work in tandem to meet the demands of distributive justice will be considered. Second, a review of property-owning democracy will be conducted. Finally, liberal socialism will be examined and discussed as an economic regime that answers the requirements of justice more fully.