Is social justice the superior economic growth model? Comparative analysis on G20 countries

Abstract

During 2006 to 2016, a panel link between social justice and economic growth is explored by performing the comparative analysis of G20 countries. The relationship between social justice and economic growth is exhibited as a U-shaped function. Economic growth is a quadratic equation of social justice. In addition, the path of economic growth is developed from “Double low”, “Justice leading” to “Double high”. Through case studies, public policy should serve the more balanced structure of social justice.

Keywords

• social justice
• inequality
• economic growth
• comparative analysis
• g20