What Is the Maximin Principle in Economics

The maximan principle is a justice criterion proposed by the philosopher Rawls. A principle about the just design of social systems, e.g. rights and duties. According to this principle the system should be designed to maximize the position of those who will be worst off in it. The basic structure is just throughout when the advantages of the more fortunate promote the well-being of the least fortunate, that is, when a decrease in their advantages would make the least fortunate even worse off than they are. The basic structure is perfectly just when the prospects of the least fortunate are as great as they can be. -Rawls, 1973, p. 328Â  (Econterms)