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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 ...
Considered one of the justice theories, equity theory was first developed in the 1960s by J. Stacey Adams, a workplace and behavioral psychologist, who asserted that employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others. [2]
Equal opportunity then emphasizes a fair process whereas in contrast equality of outcome emphasizes an equal outcome. [4] In sociological analysis, equal opportunity is seen as a factor correlating positively with social mobility, in the sense that it can benefit society overall by maximizing well-being. [4]
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 ...
[42] [43] Social equity is about equality of outcomes for each groups, while egalitarianism generally advocates for equality of opportunity, recognizing that a fair society should provide all members with the same opportunities while recognizing that different outcomes are expected due to human individuality. [44]
The Equal Credit Opportunity Act of 1974 (ECOA), signed by President Gerald Ford 50 years ago on Oct. 28, 1974, changed that. It prevented creditors from discriminating against an applicant ...
The purpose of calculating economic profits (and thus, opportunity costs) is to aid in better business decision-making through the inclusion of opportunity costs. In this way, a business can evaluate whether its decision and the allocation of its resources is cost-effective or not and whether resources should be reallocated.
consequences and costs of obesity (see, e.g., Eric A. Finkelstein et al. 2005 and Shin-Yi Chou et al. 2004). While it is clear that the reasons for the epidemic are multifaceted, survey and economic data suggest that much of the rise in obesity can be attributed to an increase in caloric