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In his “A Theory of Justice”, Rawls outlines the Difference Principle:
A core component of his theory of justice that permits social and economic inequalities only if they work to the maximum benefit of the least-advantaged members of society (The Precariat).
The losses of higher-income earners can be justified if the proportional gain in welfare of lower-income households is greater.
Rawls assumes that absolute strict equality can reduce total economic output because people may work harder when they keep a larger share of their earnings.
If unequal rewards make the economy richer overall, a portion of that extra wealth can benefit the worst-off.
Notice how skewed the Lorenz Curve for UK 2012/2014 is. The bottom 50% of households contribute no more than 10% to Aggregate Total Wealth.
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