Personal Equity

One of the virtues in People’s Economics, which is still evolving, is “equity.” This is a complicated word that has taken on several meanings, but the most important ones are a sense of fairness and a kind of “ownership” stake.

Talking about this as “social equity,” or a belief that all social and political systems need to be fair and that everyone needs to feel they have a stake in greater social success, is not very controversial. There is some politics which revolves around pure individualism and denies or diminishes any need for social equity, for sure. But this is not what the US or any democratic republic was really founded on. It is a denial of an integrated and cooperative world, and I am simply going to reject it out of hand.

But what does any of this mean in practical terms? A bit of an experiment is starting to take hold that may answer this question.

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