Define Economic Equality
Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics.
1 The Components of Political Economy. 2  Political economy is the study of how the relationship between politics and economics shapes the balance of freedom and equality. 3  States use several institutions to achieve their economic goals.hapter Review. 1  The Components of Political Economy. 2  Political economy is the study of how the relationship between politics and economics shapes the balance of freedom and equality.