A social contract is a moral understanding between rulers and those being ruled. It involves all those principles which are concernced with ethics and morality instead of legislation. Let for elaborate with an example, government plants trees and those who will harm them , will be punished or held accountable. This is called law and everyone is bound to abide by it. But if the people start taking care of those trees and protect them,although it is not essential by any law then this is the true explicitness of social contract.
The responsibility for rectification of society does not lie solely on those governing it or laws implemented into it but public contribution and moral principles work shoulder to shoulder with them in paving the society towards prosperity and peace. The government is responsible for creating opportunities but preservation of those opportunities depends on public.
A social contract is like an agreement between the governors and governed in which both vow to safeguard the rights of each others and fulfill the obligations. It is an understanding in which instead of relying on government ,people start doing reforms individually. Every individual becomes the drop that will collectively form a river. The end goal in it is to uplift the society on all the grounds.
The social contract is a give and take mechanism where some marginalised and deprived segments of society can be ignored for the better interest of the society instead of uprising against it. Government despite all its efforts cannot manage to prioritise all the sectors of society and some enjoy lack of attention . In this scenario, a good social contract plays its role in maintenance of sound atmosphere. Negotiation between uprisers and state explicits the strength of social contract.
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Social contract is a broad term , it does not only involve the mutual undertanding between state and public but intra public relations as well. Instead of relying on state, people start taking care of each other by looking after needs pf each others. No law obliges them for it , it is their conscience which compells them . Looking after needy, protecting state owned enterprises, staying away from social evils and leading a life which becomes less burden on state is the quintessence of social contract.
It is not just a human to human bond but its scope covers all the living organisms. Taking of care of all the breathing souls is included in it. The social contract forges a bond between all the loving organisms. There can be plenty of examples of it in which both sides might be worling on the basis of mutualism but let me give you a selfless example :
A person feeds his cow because in return he gets milk and more calfs. But if the same person along with his cow strts feeding some birds who wander randomly and give something to eat to strolling dogs then he sets the selfless example of social contract.
The social contract is of high signification especially in societies which have diversity of religion , culture or language. It helps in assuaging the atmosphere of tension and induce tolerance,harmony,interlinkages and peace in society. A good social contract curbs the permeability of external evils that made erode the framework of society so is of high importance. The relationship between and state doesn’t pass through turbulent waters just because of social contract and smooth running of system is observed instead of uprising and protests.
Along with advantages , mamy disadvantages are also associted with it because social contract gives absolute freedom, power and liberty to enact laws of their own choic and implement policies of their own benefits . Just because there is no accountability, scrutiny and uprising, ruling elite hardly looks upon the flocks.
Social contract’s boundaries are not defined and it is based on conscience instead of laws so everyone manifests the extent of it according to his own mindset.
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(These are my personal opinions about social contract and you may disagree)