John Rawls' theory of justice emphasizes fairness in social structures and the distribution of goods. He proposed principles derived from a hypothetical "original position" behind a "veil of ignorance."
A key principle is the Difference Principle. This principle states that inequalities in wealth and opportunity are acceptable only if they work to the advantage of the least well-off members of society.
The Rawlsian concept of equity prioritizes the well-being of the most disadvantaged. Therefore, the correct allocation is one that seeks to improve the situation of those who are least well-off.
| LIST-I | LIST-II |
| 1. Absolute Advantage | a. Paul Rosenstein Rodan |
| 2. Theory of Big Push | b. Adam Smith |
| 3. Theory of low level Equilibrium trap | c. Richard R. Nelson |
| 4. Balanced Growth Theory | d. Ragner Nurkse |