ABSTRACT
In this chapter I summarize and contrast two very dierent positions on the relationship between justice and the market. John Rawls argues in his enormously inuential A Theory of Justice, published in 1971, that justice demands public policies that could well signicantly alter the distribution of income and wealth that would otherwise be produced by the normal, everyday operations of a “free-market” economy. Friedrich Hayek, writing a decade earlier than Rawls in The Constitution of Liberty, claims to the contrary that any such redistributive eorts on the part of the state would be fundamentally unjust. e fact that they come to such diametrically opposed positions suggests that their concepts of justice are, in fact, very dierent. is is indeed the case.
