Redistribution of income and wealthRedistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals. Interpretations of the phrase vary, depending on personal perspectives, political ideologies and the selective use of statistics.
Economic liberalismEconomic liberalism is a political and economic ideology that supports a market economy based on individualism and private property in the means of production. Adam Smith is considered one of the primary initial writers on economic liberalism, and his writing is generally regarded as representing the economic expression of 19th-century liberalism up until the Great Depression and rise of Keynesianism in the 20th century. Historically, economic liberalism arose in response to feudalism and mercantilism.
Quality of lifeQuality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards and concerns". Standard indicators of the quality of life include wealth, employment, the environment, physical and mental health, education, recreation and leisure time, social belonging, religious beliefs, safety, security and freedom.
Critical race theoryCritical race theory (CRT) is an interdisciplinary academic field devoted to analysing how laws, social and political movements, and media shape, and are shaped by, social conceptions of race and ethnicity. CRT also considers racism to be systemic in various laws and rules, and not only based on individuals' prejudices. The word critical in the name is an academic reference to critical thinking, critical theory, and scholarly criticism, rather than criticizing or blaming individuals.
Income distributionIn economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital).
Social equalitySocial equality is a state of affairs in which all individuals within a specific society have equal rights, liberties, and status, possibly including civil rights, freedom of expression, autonomy, and equal access to certain public goods and social services. Social equality requires the absence of legally enforced social class or caste boundaries and the absence of discrimination motivated by an inalienable part of an individual's identity.
CivilizationA civilization (British English: civilisation) is any complex society characterized by the development of the state, social stratification, urbanization, and symbolic systems of communication beyond natural spoken language (namely, a writing system). Civilizations are additionally characterized by other features, including agriculture, architecture, infrastructure, technological advancement, taxation, regulation, and specialization of labour.
