QUALITY OF INCOME AS THE INDICATOR OF SOCIAL JUSTICE: ANALYTICAL METHODOLOGY

Vladimir S. Osipov, Veronika V. Yankovskaya, Maksim M. Novikov, Tatiana V. Aleksashina

Abstract: Social justice is a path to the reduction of inequality and one of the key milestones of sustainable development in the materials by the UN. However, there is a methodological gap, which hinders measuring the level of an economic system's social justice. The discovered gap is filled in here through the development of the analytical methodology of measuring social justice with the help of such criterion as the quality of income. Quality of income is measured from the positions of the influence of the quality of income on the quality of the population's life (according to the materials of "Quality of Life Index of the Numbeo (2021)) and the level of happiness in society (according to the materials of World Happiness Report (2021)). For the treatment of the results of the evaluation, we develop an analytical matrix. According to it, high (nominal, quantitative) income must ensure an increase in the quality of life and an increase in the level of happiness in society. In this case, the quality of income could be deemed high, and society - just. The developed proprietary methodological approach is approbated by the example of various developed and developing countries, which allows characterizing the level and differences in the quality of income and social justice of countries of the selected categories and proposing recommendations for the increase in the quality of income.

Keywords: Quality of Income, Social Justice, Distribution of Incomes, World Economy, Developing Countries, Developed Countries, Tax Policy

DOI: 10.24874/IJQR17.03-20

Recieved: 21.09.2022  Accepted: 16.06.2023  UDC: 005.6

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