equality and equity Flashcards
1
Q
Benefits of equality
A
Improves social cohesion – less difference
Improves health – greater access
Can encourage economic growth – less saving
2
Q
Limitations of equality
A
Lack of incentive to work harder; what’s the point?
Profit motive drives the economy
International competitiveness: in highly re-distributive economies(high taxes and benefits) may act as an uncompetitive constraintin the economy
3
Q
Equality
A
Same
4
Q
Equity
A
the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics
Vertical and horizontal. Use stuff from poverty