| 单词 | equity |
| 释义 | equity (fairness) The concept of distributive justice used in welfare economics. Equity as fairness has several possible meanings, not always consistent. Sometimes it means equality; sometimes that differences in deserts should be followed by differences in rewards; and sometimes that expectations should not be disappointed. These interpretations of equity can conflict: applying the concept of equity to pensions, for example, equity as equality implies at least approximate equality of pensions; equity as matching rewards to deserts implies that a career of hard and responsible work should earn a higher pension than one of slacking or routine casual work; and equity as conforming to expectations means that people should not be disappointed of the pensions they have been led to expect. See also: horizontal equity, and vertical equity |
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