The United Nations Development Strategy and Policy Analysis Unit (2015, reference below) summarizes:
“Economic inequality refers to how economic variables are distributed – among individuals in a group, among groups in a population, or among countries.”
Inequality of outcomes vs inequality of opportunity
The article goes on to say:
“Concerning economic inequality, much of the discussion has boiled down to two views. One is chiefly concerned with the inequality of outcomes in the material dimensions of well-being and that may be the result of circumstances beyond one’s control (ethnicity, family background, gender, and so on) as well as talent and effort. This view takes an ex-post or achievement-oriented perspective. The second view is concerned with the inequality of opportunities, that is, it focuses only in the circumstances beyond one’s control, that affect one’s potential outcomes. This is an ex-ante or potential achievement perspective.
Atlas topic, subject, and course
United Nations Development Strategy and Policy Analysis Unit (2015), Concepts of Inequality, Development Issues No. 1., October 2015, at http://www.un.org/en/development/desa/policy/wess/wess_dev_issues/dsp_policy_01.pdf, accessed 13 December 2018.
Page created by: Alec Wreford and Ian Clark, last modified on 13 December 2018.
Image: Cherry Hill Public Library, Inequality for All, 26 September 2018, at http://chplnj.evanced.info/signup/EventDetails?EventId=10633&nomobile=1&backTo=List&startDate=2018/09/21&endDate=2018/10/21, accessed 13 December 2018.