PRESENTATION OUTLINE
when we say 'equity' in economic terms...
sometimes we're saying let's share the wealth!
other times, rewards to be proportionate
this gets conflicted in a hurry
prevailed in all successful nations
canada has been pretty good
which of the two is more representative?
60% of canadians get 30% of total income
40% of canadians get 70% of the income
reasons for income inequality
capitalism is efficient at producing goods and services
anyone can get in at any time
people also can suddenly stop caring
people have different physical/mental abilities
alzheimer's might be cured
people differ in degree of education/training
some people are willing to work longer/harder than others
assumption of risk/responsibility usually rewarded
family background can affect future earning
market power =higher income
discrimination... reversed
regional economic disparity