How does economics contribute to the debates about equity?

Question

Quizplus · Accepted Answer

Economics provides tools to analyze the costs and benefits of different redistribution systems. By examining the impacts of policies and programs aimed at promoting equity, economists can assess their effectiveness, efficiency, and unintended consequences. This analysis can inform debates about who should receive what resources, how much, and in what form, based on the trade-offs between equity and other social values, such as efficiency, growth, and freedom. However, economics cannot provide all the answers or decide who is right or wrong, as equity is ultimately a normative and political concept that goes beyond the realm of economic analysis.

How Does Economics Contribute to the Debates About Equity