There are no first principles etched in stone from which all moral philosophers must take their bearings. We must deliberately choose our point of departure in any attempt to respond to the question: “Must any defensible theory of justice incorporate both a commitment to personal liberty and to economic equality?” Basic to our own approach is a suspicion of seers and visionaries who espy an external source of values independent from human choices. We presuppose, instead, that political philosophy commences with individual evaluation.1 A near-corollary of this presupposition is that each individual's preferences ought to be taken into account equally with those of others. That is, we suppose that there is no privileged evaluator, whose preferences are accorded decisive weight. Conceptual unanimity as a criterion for institutional evaluation follows naturally from the other two presuppositions. If there is neither an external standard of value nor a corps of resident value experts, only unanimity can ultimately be satisfactory as a test of social desirability. Our perspective then is subjectivist, individualist, and unanimitarian.These presuppositions inform our contractarian analysis. There are, however, two separate contractarian traditions that we shall find useful to distinguish, the “Hobbesian” and the “Rawlsian.” In the first, persons find themselves in the anarchistic war of each against all. They contract away their natural liberties in exchange for the order that civil society – through its sovereign – affords. In this contracting process, individuals are assumed to possess full self-knowledge; they know who they are, what conceptions of the good they hold, and what their endowments are.