Judicial process

Judicial process

Introduction

The purpose of this paper is to define the two terms coined by the sociologists; social capital and economic capital; and describe in detail the role of both these terms in the growth and development of a society and also the correlation of these two sorts of capitals in the maintenance of social justice and social well being in the society of the United States. In the light of this significance, it would be deduced whether the law should incorporate policies for helping the lower class in the acquisition of these two things.

Economic capital

Economic capital is the amount of capital, which a country, generally in financial services, requires for ensuring that the state or the country remains in the black. The economic capital is estimated on the inside and it is the amount of capital required by the country for supporting any risks experienced by it.

Significance of Economic Capital

The law in the US must incorporate and support policies and systems that encourage the lower class in the society to acquire the economic capital if they wish to move up in the society. This is for a number of reasons. Majority of the sociologists do not consider the economic policy while thinking of the social policy, still the economic policies by the law are significant to the issues which are of utmost concern to the sociologists, counting in the ethnic discrimination, poverty and inequality. A number of beliefs and ideologies in question are based on the justice of the economic system for their achievement. These count in the ascendant mobility, power of individual effort and self reliance, and equal opportunity. The economic system employed in the United States, is known as the market capitalism, which must be having such a law incorporated within so as to encourage the lower class for acquiring the economic capital (Kawachi, et. al, 2007). There must be an economic system developed in the US so as to generate and allot resources, counting in shelter and food for its citizens. Because of the scarcity of these resources, the lack of such a system would result in disorder and anarchy.

The economic policies of law are the socially developed means for producing and allocating these resources. Evidently, there are several means of instituting such a system of development and allocation, some more benevolent compared to others. An absolutely communist system, for instance, that primarily exists in religious matters, would present just and uniform allocation of all the resources. In actual fact, countries which claim to be communists, have more centralized system incorporated within, whereas the influential leaders managed the ways of development and allocation of resources all through the country, having no or very little democratic input (Olson, 2002). One more probable economic system that may be incorporated within the society is socialism wherein the government adopts the ways of production and watches over the allocation by means of establishing wage levels and prices. In case, such a government is dependent on the frequent elections, then it would ...