IS.1.1. Equality of Opportunity

IS.1.1. Equality of Opportunity - Definitions:

D1. Fairness: Equal distribution of the opportunities is the point of reference for judgement of fair versus unfair inequality.

D.2. Equality of Opportunity - Substantial: Equality of opportunity requires that all individuals have the same chances to obtain valuable outcomes.

D.3. Equality of Opportunity - Formal: Non-discrimination, prescribing that all individuals should be treated equally.

D.4. Circumstances: That which is out of control of an individual's effort.

D.5. Effort: That for which individual is held responsible i.e. which is within the reach or control of an individual.

D.6. Compensation Principal: To compensate individuals for the unfair disadvantage due to their circumstances.

D.7. Reward Principal: To reward individuals for the fair advantage due to their effort.

E.1. Two scenarios are now as follows:

I. For each Effort level, there can be many individuals each facing a different Circumstance.

II. For each Circumstance, there can be many individuals each providing a different Effort level.

Reference: Osberg, L. (2019). Could" Equality of Opportunity" among Commoners Suffice?. Dalhousie University, Department of Economics Working Papers, (daleconwp2019-01).

Brainstorming: What is Importance of Attention Direction?

Brainstorming: What is Importance of Attention Direction? Notes: It is useful for every apprentice to brainstorm and organize their ideas on important topics. This helps recall, and also discover logical gaps, or other weaknesses. I have attempted to do the same here. You may use it to develop your own diagram to organize and refine your own thoughts around the question in the title. See Project Concept Maps (Slide on Concept Maps) for understanding how these diagrams were made. You may download the picture to see it full size (Left Click on the picture, and select Save As.)

2.1.0. Primacy of the Need Satiation.

D.1. Primacy of the Need Satiation: All humans strive for satiation of their Needs, and this forms the primary cause of all the variations in an Economy. Axiomatic Derivation: 1. All Humans have Needs (See Need for concept details). 2. All self aware organisms are aware of their Needs, and consequences of thwarting these Needs. 3. All self aware organisms are also organisms who wish to secure their existence . 4. All self aware organisms, following 2 and 3, strive for satiation of their Needs. 5. Humans are self aware organisms. 6. Humans being self aware strive for satiation of their Needs. 7. The sum of all such strives by various individuals form an Economy, or Market. 8. Alternatively, strive for satiation of the human needs forms the principle cause of all the variations in an Economy. 9. NOTE: For an elaboration of this, an explanation below shall be appended soon.

Brainstorming: What is Economics?

Brainstorming: What is Economics? Notes: It is useful for every apprentice to brainstorm and organize their ideas on important topics. This helps recall, and also discover logical gaps, or other weaknesses. I have attempted to do the same here. You may use it to develop your own diagram to organize and refine your own thoughts around the question in the title. See Project Concept Maps (Slide on Concept Maps) for understanding how these diagrams were made. You may download the picture to see it full size (Left Click on the picture, and select Save As.)

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