Equity (economics)
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Equity (economics)
Equity, or economic equality, is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics. More specifically, it may refer to a movement that strives to provide equal life chances regardless of identity, to provide all citizens with a basic and equal minimum of income, goods, and services or to increase funds and commitment for redistribution. Overview According to Peter Corning, there are three distinct categories of substantive fairness (equality, equity, and reciprocity) that must be combined and balanced in order to achieve a truly fair society. Inequality and inequities have significantly increased in recent decades. Equity is based on the idea of moral equality. Equity looks at the distribution of capital, goods, and access to services throughout an economy and is often measured using tools such as the Gini index. Equity may be distinguished from economic efficiency in overall evaluation of social welfare. Although 'equi ...
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Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rational a ...
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Distributive Justice
Distributive justice concerns the socially just allocation of resources. Often contrasted with just process, which is concerned with the administration of law, distributive justice concentrates on outcomes. This subject has been given considerable attention in philosophy and the social sciences. In social psychology, distributive justice is defined as perceived fairness of how rewards and costs are shared by (distributed across) group members. For example, when some workers work more hours but receive the same pay, group members may feel that distributive justice has not occurred. To determine whether distributive justice has taken place, individuals often turn to the behavioral expectations of their group. Forsyth, Donelson R. 2006. "Conflict." Pp. 388–89 in ''Group Dynamics'' (5th ed.), by D. R. Forsyth. Belmont, CA: Wadsworth Cengage Learning. If rewards and costs are allocated according to the designated distributive norms of the group, distributive justice has occurred. ...
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Anthony J
Anthony or Antony is a masculine given name, derived from the ''Antonii'', a '' gens'' ( Roman family name) to which Mark Antony (''Marcus Antonius'') belonged. According to Plutarch, the Antonii gens were Heracleidae, being descendants of Anton, a son of Heracles. Anthony is an English name that is in use in many countries. It has been among the top 100 most popular male baby names in the United States since the late 19th century and has been among the top 100 male baby names between 1998 and 2018 in many countries including Canada, Australia, England, Ireland and Scotland. Equivalents include '' Antonio'' in Italian, Spanish, Portuguese and Maltese; ''Αντώνιος'' in Greek; ''António'' or ''Antônio'' in Portuguese; '' Antoni'' in Catalan, Polish, and Slovene; ''Anton'' in Dutch, Galician, German, Icelandic, Romanian, Russian, and Scandinavian languages; '' Antoine'' in French; '' Antal'' in Hungarian; and '' Antun'' or '' Ante'' in Croatian. The usual abbreviated for ...
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Economics Handbooks
Economics handbooks are handbooks on subjects of economics. Such handbooks range in audience from the general reader to the advanced student and professional economist. Examples Economics handbooks that form a series include, but are not limited to, the following: * Cambridge Economic Handbooks – associated with Cambridge University Press in the U.K. It began in 1922 with volumes titled ''Supply and Demand'' and ''Money''. Volumes in the series carry an often-cited introduction of J. M. Keynes, its first editor. Later works in the series include more specialized topics but written for accessibility. Various publishers have carried the series outside the U.K., including and Harcourt and University of Chicago Press in the U.S. First editions include some 25 volumes through 1993. * Economics Handbooks from McGraw-Hill – began in 1948 with a volume titled ''The Location of Economic Activity''. The series includes over 40 volumes through 1982. * Handbooks in Economics from Elsevier ...
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Joseph E
Joseph is a common male given name, derived from the Hebrew Yosef (יוֹסֵף). "Joseph" is used, along with "Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the modern-day Nordic countries. In Portuguese and Spanish, the name is " José". In Arabic, including in the Quran, the name is spelled '' Yūsuf''. In Persian, the name is "Yousef". The name has enjoyed significant popularity in its many forms in numerous countries, and ''Joseph'' was one of the two names, along with ''Robert'', to have remained in the top 10 boys' names list in the US from 1925 to 1972. It is especially common in contemporary Israel, as either "Yossi" or "Yossef", and in Italy, where the name "Giuseppe" was the most common male name in the 20th century. In the first century CE, Joseph was the second most popular male name for Palestine Jews. In the Book of Genesis Joseph is Jacob's eleventh son and Rachel's first son, and ...
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Anthony B
Keith Blair (born 31 March 1976), better known by the stage name Anthony B, is a Jamaican DJ and member of the Rastafari movement.Moskowitz, David V (2006) ''Caribbean Popular Music: an Encyclopedia of Reggae, Mento, Ska, Rock Steady, and Dancehall'', Greenwood Press, , p.13-14 Biography Early life Blair grew up in rural Clark's Town in the northwestern parish of Trelawny in Jamaica. His deeply religious family life (his mother was a Seventh-day Adventist and his grandmother a Revivalist) imbued him with a profound spirituality. During his youth, his favourite singers were reggae legends Bob Marley and Peter Tosh, musicians who strongly influenced his own style.Larkin, Colin (1998) ''The Virgin Encyclopedia of Reggae'', Virgin Books, , p.17 Peter Tosh's influence can definitely be heard in Anthony B's vocal delivery and revolutionary stance. Anthony B adopted Rastafari movement beliefs as a teenager, a decision which was not well received by his family. The stubborn and determ ...
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Footnotes
A note is a string of text placed at the bottom of a page in a book or document or at the end of a chapter, volume, or the whole text. The note can provide an author's comments on the main text or citations of a reference work in support of the text. Footnotes are notes at the foot of the page while endnotes are collected under a separate heading at the end of a chapter, volume, or entire work. Unlike footnotes, endnotes have the advantage of not affecting the layout of the main text, but may cause inconvenience to readers who have to move back and forth between the main text and the endnotes. In some editions of the Bible, notes are placed in a narrow column in the middle of each page between two columns of biblical text. Numbering and symbols In English, a footnote or endnote is normally flagged by a superscripted number immediately following that portion of the text the note references, each such footnote being numbered sequentially. Occasionally, a number between brack ...
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Who Moved My Cheese
''Who Moved My Cheese? An Amazing Way to Deal with Change in Your Work and in Your Life'', published on September 8, 1998, is a bestselling seminal work and motivational business fable by Spencer Johnson. The text describes the way one reacts to major change in one's work and life, and four typical reactions to those changes by two mice and two "Littlepeople," during their hunt for " cheese." A ''New York Times'' business bestseller upon release, ''Who Moved My Cheese?'' remained on the list for almost five years and spent over 200 weeks on ''Publishers Weekly''s hardcover nonfiction list. As of 2018, it has sold almost 30 million copies worldwide in 37 languages and remains one of the best-selling business books. Story Allegorically, ''Who Moved My Cheese?'' features four characters: two mice, "Sniff" and "Scurry," and two Littlepeople, human metaphor, "Hem" and "Haw." (The names of the Littlepeople are taken from the phrase "hem and haw," a term for indecisiveness.) They ...
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Tax Incidence
In economics, tax incidence or tax burden is the effect of a particular tax on the distribution of economic welfare. Economists distinguish between the entities who ultimately bear the tax burden and those on whom tax is initially imposed. The tax burden measures the true economic weight of the tax, measured by the difference between real incomes or utilities before and after imposing the tax, taking into account how the tax leads prices to change. If a 10% tax is imposed on sellers of butter, for example, but the market price rises 8% as a result, most of the burden is on buyers, not sellers. The concept of tax incidence was initially brought to economists' attention by the French Physiocrats, in particular François Quesnay, who argued that the incidence of all taxation falls ultimately on landowners and is at the expense of land rent. Tax incidence is said to "fall" upon the group that ultimately bears the burden of, or ultimately suffers a loss from, the tax. The key concep ...
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Proportional Tax
A proportional tax is a tax imposed so that the tax rate is fixed, with no change as the taxable base amount increases or decreases. The amount of the tax is in proportion to the amount subject to taxation. "Proportional" describes a distribution effect on income or expenditure, referring to the way the rate remains consistent (does not progress from "low to high" or "high to low" as income or consumption changes), where the marginal tax rate is equal to the average tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA It can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Proportional taxes maintain equal tax incidence regardless of the ability-to-pay and do not shift the incidence disproportionately to those with a higher or lower economic well-being. Flat tax ...
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Progressive Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.Sommerfeld, Ray M., Silvia A. Madeo, Kenneth E. Anderson, Betty R. Jackson (1992), ''Concepts of Taxation'', Dryden Press: Fort Worth, TX The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay ...
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Justice (economics)
Justice in economics is a subcategory of welfare economics. It is a "set of moral and ethical principles for building economic institutions". Economic justice aims to create opportunities for every person to have a dignified, productive and creative life that extends beyond simple economics. Models of economic justice frequently represent the ethical-social requirements of a given theory, whether "in the large", as of a just social order, or "in the small", as in the equity of "how institutions distribute specific benefits and burdens". That theory may or may not elicit acceptance. In the Journal of Economic Literature classification codes 'justice' is scrolled to at JEL: D63, wedged on the same line between ' Equity' and 'Inequality' along with 'Other Normative Criteria and Measurement'. Categories above and below the line are Externalities and Altruism. Some ideas about justice and ethics overlap with the origins of economic thought, often as to distributive justice and ...
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