A classless Socialist/Communist world would have no concept of income. People would have free access to the goods and services produced, but that doesn’t mean equal consumption.
Equality of income and wealth is known as communism.
Economic equality exists when there is a reduced gap between the rich and the poor, in terms of income and wealth.
Egalitarianism
That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.
how do capital and human capital increase the gdp wealth and income of nations
socialist
Economic equality exists when there is a reduced gap between the rich and the poor, in terms of income and wealth.
The Commonwealth Games are known as the friendly games as they promote unity, sportsmanship, and equality.
Egalitarianism
Wealth is distributed more unequally in the US compared to income. The top 1% of households in the US hold a disproportionate amount of the nation's wealth, with a significant wealth gap between the richest and poorest individuals. This inequality in wealth distribution has long-term implications for economic stability and social mobility.
The redistribution of wealth is aimed at enhancing levels of economic equality.
That would depend completely on the kind of economy being planned. Some plans/ideas for economies, such as those of the Venus Project, do emphasise equality of wealth. Other planned economies, as seen with many communist systems historically, do not provide equality of wealth.
Uri B. Dadush has written: 'Inequality in America' -- subject- s -: Poor, Equality, Wealth, Income distribution, Social conditions, Economic conditions
Wyoming is known as the "Equality State"
Redistributing wealth involves transferring money or resources from those with more to those with less, aiming to reduce economic inequality. This can be done through policies like progressive taxation, social welfare programs, and wealth inheritance taxes. The goal is to create a more equal distribution of wealth in society.
how do capital and human capital increase the gdp wealth and income of nations
Fred Twine has written: 'Distribution of wealth and income' -- subject(s): Wealth, Income distribution
how do capital and human capital increase the gdp wealth and income of nations