Schools of Thought On Economic Inequality
Main discussion: Perspectives regarding economic inequality.
There are various schools of thought regarding economic inequality. Marxism favors an eventual society where distribution is based on an individual's needs rather than social class or other such factors. Meritocracy favors an eventual society where an individual's success is a direct function of contribution reflecting an individual's skills and effort, and detrimental (this is a value judgement) inasmuch as it represent inherited or unjustified wealth or opportunities. Classical liberals and libertarians generally do not take a stance on wealth inequality, but believe in equality under the law regardless of whether it leads to unequal wealth distribution. Arguments based on social justice favor a more equal distribution making claims economic inequality weakens societies, although counter-arguments are made that inequality might benefit societies.
Read more about this topic: International Inequality
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