Who among the following upholds the principle of competition as the most efficient and fair way of distributing resources and rewards in society?

Liberals

The correct answer is Option 4 - Liberals

Liberals uphold the principle of competition as the most efficient and fair way of distributing resources and rewards in society.

An opposing point of view to that of Karl Marx can be found in liberal theories. Liberals uphold the principle of competition as the most efficient and fair way of distributing resources and rewards in society. They believe that while states may have to intervene to try and ensure a minimum standard of living and equal opportunities for all, this cannot by itself bring equality and justice to society. Competition between people in free and fair conditions is the most just and efficient way of distributing rewards in a society. For them, as long as competition is open and free, inequalities are unlikely to become entrenched and people will get due reward for their talents and efforts.

For liberals the principle of competition is the most just and efficient way of selecting candidates for jobs or admission to educational institutions. For instance, in our country many students hope for admission to professional courses and entry is highly competitive. From time to time, the government and the courts have stepped in to regulate educational institutions and the entrance tests to ensure that everybody gets a fair and equal chance to compete. Some may still not get admission but it is considered to be a fair way of distributing limited seats.

Unlike socialists, liberals do not believe that political, economic and social inequalities are necessarily linked. They maintain that inequalities in each of these spheres should be tackled appropriately. Thus, democracy could help to provide political equality but it might be necessary to also devise different strategies to deal with social differences and economic inequalities. The problem for liberals is not inequality as such, but unjust and entrenched inequalities which prevent individuals from developing their capabilities.