Economics Dictionary of ArgumentsHome
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| Equality: A. In mathematics, equality is a relationship between two quantities or expressions, asserting that they have the same value. It is written using the equals sign (=). For example, 2+3=5 and x=2x/2 are both equalities. The concept is also used in many other fields, such as physics, engineering, and computer science. - B. Equality in politics is the idea that all people are equal in fundamental worth or moral status. This means that all people deserve to be treated with respect and dignity, regardless of their race, gender, religion, social class, or any other factor. See also Equal sign, Equations._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Adam Smith on Equality - Dictionary of Arguments
Otteson I 41 Equality/Adam Smith/Otteson: In a Smithian society, do people grow richer? Yes. Do people grow richer equally? No. Although all get richer, some get richer faster, and to greater heights, than others. Is this not morally problematic? Smith himself seems alive to this issue, even in the eighteenth century. He writes, for example: "No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, cloath and lodge the whole body of the people, should have such a share of the produce of their own labor as to be themselves tolerably well fed, cloathed and lodged" (WN(1): 96). Otteson I 42 Elsewhere he writes: "By necessaries I understand, not only the commodities which are indispensably necessary for the support oflife, but whatever the custom of the country renders it indecent for creditable people, even of the Iowest order, to be without.[...] Under necessaries therefore, I comprehend, not only those things which nature, but those things which the established rules of decency have rendered necessary to the Iowest rank of people" (WN(1): 869-70). Together these passages not only reiterate Smith's paramount concern for "the Iowest rank of people," but also express his moral mandate that as society increases in overall prosperity the standard ofliving of the least among us must rise as well. >Inequalities/Adam Smith. 1. Smith, Adam. (1776) The Wealth of Nations. London: W. Strahan and T. Cadell._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSmith I Adam Smith The Theory of Moral Sentiments London 2010 EconSmithV I Vernon L. Smith Rationality in Economics: Constructivist and Ecological Forms Cambridge 2009 Otteson I James R. Otteson The Essential Adam Smith Vancouver: Fraser Institute. 2018 |
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