Differences Between Similar Products
Dec 7, 2011 by daniel
Difference between Equity and Equality
Equality obviously portrays each person is on one level, while equity is a business practice that displays ownership of company shares. Equality talks about the identically apportioning of values, qualities or any other dealings. In contrast, equity only signifies fairness or equal outcomes. It talks about factoring various factors of a system that may have placed certain sections at a great disadvantage.
A good example that would assist to clarify the differences between these two is to look at how food is served at a dinner table. Equality means that everyone at the table would be served the same amount of food. Conversely, equity means that the servers would make sensible choices and divided the food based on the needs of the people at the table. This means smaller amounts for children and large amounts for adults.
Equity is used for referring to the impartiality, even handedness, justness and fairness in a certain situation. However, equality refers to the exact division and equal sharing of things like assets or stocks of a company.
A practical display of this difference is to look at the popular feminist movement. If women want to be treated just like men, which is equality, this would be impossible since men and women are greatly different. In contrast, when women demand equity in the way they are treated, it would be achievable as it is a genuine request. This would be possible since they want the same privileges and rights like men have. Equity is desirable and not sameness or equality.
If you were to consider a classic example so as to distinguish these two terms, you can think about the long cold war. During that time, communist nations attempted to use equality through paying each person the same salary. In contrast, capitalist paid people salaries based on productivity and merit. The efficiency of equity is displayed by the eventual collapse of communism, which was employing equality.
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