equity
/ˈɛkwɪti/
noun
the quality of being fair and impartial.
the value of the shares issued by a company.
We all talk about fairness and justice and righteousness. What we fail to factor in is the positions and perspectives that we take when we talk about them.
Currently, all around the world, there's a huge debate about equality - be it gender equality, racial equality, sexual equality, immigration equality or the much broader, human rights equality.
But what we don't realise, most of the time, is that there are two very different types of equalities - equality of opportunity and equality of outcome. And by definition, both of these are mutually exclusive. If you have equality of opportunity, you will not have equality of outcome. If you enforce equality of outcome, you won't have equality of opportunity.
This concept is not very hard to grasp.