Question
Provide peer review Many economists believe there is a conflict between the economic goals of growth and equity. Do you agree or disagree? Response: Oxford
Provide peer review
Many economists believe there is a conflict between the economic goals of growth and equity. Do you agree or disagree?
Response: Oxford dictionary defines economic growth as "an increase in the amount of goods and services produced per head of the population over a period of time", it defines equity as "the quality of being fair and impartial". In a capitalistic free market economy, I do not believe that there is a conflict between growth and equity. The main reason I believe this is because regardless of your financial standings, background or upbringing, at the end of the day, if you have a good or service that brings value to the marketplace (consumers), you have the ability for economic growth, which by definition is fair and impartial. That being said, I do believe there are too many people today who confuse equity in opportunity and equality in outcome. Though someone may not have the same starting place economically as someone else, the goal of economic growth falls solely on the individual(s) striving towards it. This is done through specialization and optimization of the resources an individual does have. Overall, continuing to strive for growth is an individual choice. There are no laws that restrict or limit people of certain age, race, religion or sex from growing economically.
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