Equity is Better than Equality

Page 1

Equity

better

than

equality

Because we live in a world where everyone operates different jobs and labors and its not fair to give everyone the same when there are jobs that require more effort and work, also their are others that are complex and require more knowledge, more risks and so on. But how you make it fare then? That’s where a free market its good at since people will pay more money for complex attributes than simpler ones. Company’s will pay higher wages to different jobs than others. The right market price without interventions is most of time the fair price to pay for. So as you can see, in a free market economy, usually equity is what is respected not equality. In the case of communism we se more equality been apply than equity and that’s why much people lose the incentives to do certain activities. When you have everyone earning the same a lot of them might think that its not fair that they earn the same than their neighbors or team workers when they are doing more complicate work and being more

A

productive

question

than

than

socialism

might

them.

ask

is:

Equity is subjective because is not quantifiable, so how can you determine equity in characteristics when sometimes is not quantifiable? I will have to say that you have to make it quantifiable somehow. There are ways to make qualitative characteristics quantifiable and that’s why statistics are so important. That’s what it does, it makes qualitative

subject

quantifiable.

Equality means that each group of people is given the same resources or


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