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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.
paulbenn
Wiki User
∙ 9y agoEquality of income and wealth is known as communism.
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When can economic equality exist?
Economic equality exists when there is a reduced gap between the rich and the poor, in terms of income and wealth.
Which economic providing equality of wealth?
Egalitarianism
Does a planned economy provide equality of wealth?
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 increases the GDP wealth and income of nations?
how do capital and human capital increase the gdp wealth and income of nations
What person believes that real equality can only exist when political equality is coupled with economic equality and that democratic means should be used to distribute wealth evenly throughout society?
socialist
When can economic equality exist?
Economic equality exists when there is a reduced gap between the rich and the poor, in terms of income and wealth.
Is the Common wealth Games also known as friendly games?
The Commonwealth Games are known as the friendly games as they promote unity, sportsmanship, and equality.
Which economic providing equality of wealth?
Egalitarianism
Which is distributed more unequally in US income or wealth?
Income is a flow variable of economics and measures the amount of money earned over a period of time whereas wealth is a stock variable and is the net worth (total assets - total liabilities) of a person defined at a specific point of time. In US, the Gini coefficient(which varies for 0 to 1, with 0 representing complete equality and 1 representing total inequality) is an effective measure of the extent of income and wealth inequality. Over the years the gini index for wealth has been greater then that of income. Hence, wealth is more unevenly distributed in the US.
What is the cause of Distribution of wealth?
The redistribution of wealth is aimed at enhancing levels of economic equality.
Does a planned economy provide equality of wealth?
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.
What has the author Uri B Dadush written?
Uri B. Dadush has written: 'Inequality in America' -- subject- s -: Poor, Equality, Wealth, Income distribution, Social conditions, Economic conditions
Which state is known as the Equality State?
Wyoming is known as the "Equality State"
What does it mean to redistribute the wealth?
To redistribute wealth means to bring equality to everyone in wealth. To achieve this, the government for example, will tax the wealthy to provide for the poor. That is what it is to redistribute wealth.
How do capital and human capital increase the wealth and income of nations?
how do capital and human capital increase the gdp wealth and income of nations
What has the author Fred Twine written?
Fred Twine has written: 'Distribution of wealth and income' -- subject(s): Wealth, Income distribution
How do capital and human capital increases the GDP wealth and income of nations?
how do capital and human capital increase the gdp wealth and income of nations
