Economic Justice

DEFINITION of 'Economic Justice'

Economic justice is a component of social justice. It's a set of moral principles for building economic institutions, the ultimate goal of which is to create an opportunity for each person to create a sufficient material foundation upon which to have a dignified, productive, and creative life beyond economics.

BREAKING DOWN 'Economic Justice'

An example of an economic justice institution is progressive taxation - a system of taxation where tax percentage increases as the base amount increases. The goal of progressive taxation is to remedy income inequality and to provide funds for social services, public infrastructure, and education. Earned income credit, affordable housing, and need-based federal financial aid for college students are other examples of economic justice institutions.