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3.4.1 Relationship between equality and equity

In our introduction to economics in 1.1.1 Economics as a social science, we introduced the differences between equity and equality.

Definition

Equality

The even distribution of resources, opportunities, and outcomes among individuals or groups within a society

Definition

Equity

Refers to the concept where there is a fair resource distribution.

  1. In economics, when talking about equity or equality, we usually talk about whether there is an equal or equitable:
    1. Distribution of income.
    2. Distribution of wealth.
  2. In a poverty context, the terms 'equity' and 'equality' tend to be used synonymously, even though their meanings are different. This is because:
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Definition

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Note

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Excepteur sint occaecat cupidatat non proident

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Tip

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  1. Lorem ipsum dolor sit amet, consectetur adipiscing elit.
  2. Sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
  3. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris.
  4. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum.
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Note

Introduction to Equality and Equity

  • Equality refers to the even distribution of resources, opportunities, and outcomes among individuals or groups within a society. Think of it as giving everyone the same size slice of a cake, regardless of their hunger or needs.
  • Equity is about fairness and justice, ensuring that everyone gets what they need to succeed. In the cake analogy, it means giving a larger slice to someone who hasn't eaten all day and a smaller slice to someone who just had lunch.

Analogy

Imagine a basketball game where equality means everyone gets the same size shoes, while equity means everyone gets shoes that fit their size. Equality treats everyone the same, while equity considers individual needs.

Definition
Equality
The even distribution of resources, opportunities, and outcomes among individuals or groups within a society

Definition
Equity
The condition of being fair or just.