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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
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).
Social equality is a state of affairs in which all individuals within society have equal rights, liberties, and status, possibly including civil rights, freedom of expression, autonomy, and equal access to certain public goods and social services.
You might see the terms “equality” and “equity” used interchangeably, especially around conversations promoting fairness when it comes to human rights issues (like gender, race, sexual ...
The post Equality vs. Equity: What’s the Difference? appeared first on Reader's Digest. Maybe you've interchanged the words "equity" and "equality" in conversation—but they don't, in fact ...
A typical Lorenz curve. In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth.It was developed by Max O. Lorenz in 1905 for representing inequality of the wealth distribution.
The concept of inequality is distinct from that of poverty [5] and fairness. Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
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