Equity

This essay will not attempt to cover all the meanings of equity, but will proceed on the assumption of some common understandings of equality and fairness. It will first summarize briefly how the concept of equity has fared in the evolution of economic theory, from the classical economists of the 18th and 19th centuries, through the neoclassicals of the 20th. It will then focus on ways that ecological economics can once again provide a central place for equity. To do so is not simply a theoretical exercise. Values are involved – values that cannot help but have an impetus toward action. Some possible implications for action will be outlined