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The ancient Greek philosophers Plato and Aristotle debated economic equality. Painting by Raffaello Sanzio (1509). According to professor of politics Ed Rooksby, the concept of equality of outcome is an important one in disputes between different political positions, since equality has overall been seen as positive and an important concept that is "deeply embedded in the fabric of modern ...
The result, however, is that economic productivity and the standard of living can be lessened in a socialist economy due to disincentive to production. Equity of condition in a mixed economy, such as the United States, can be nebulous and ever-changing. Governmental subsidies and tax deductions may be extended for political reasons, and a ...
Equity, or economic equality, is the construct, concept or idea of fairness in economics and justice in the distribution of wealth, resources, and taxation within a society. . Equity is closely tied to taxation policies, welfare economics, and the discussions of public finance, influencing how resources are allocated among different segments of the populati
Equality: Regardless of their inputs, all group members should be given an equal share of the rewards/costs. Equality supports that someone who contributes 20% of the group's resources should receive as much as someone who contributes 60%. Equity: Members' outcomes should be based upon their inputs. Therefore, an individual who has invested a ...
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Equality of outcome, in which the general conditions of people's lives are similar; Substantive equality, Equality of outcome for groups; For specific groups: Gender equality; Racial equality; Social equality, in which all people within a group have the same status; Economic inequality; Equality Party (disambiguation), several political parties
Efforts to achieve equal opportunity can rise and recede, sometimes as a result of economic conditions or political choices. [109] Empirical evidence from public health research also suggests that equality of opportunity is linked to better health outcomes in the United States and Europe.
The effect suggests a link between social equality or concessions by the regime and unintended consequences, as social reforms can raise expectations that can't be matched. [5] According to the Tocqueville effect, a revolution is likely to occur after an improvement in social conditions, in contrast to Marx 's theory of revolution as a result ...