An intrinsic property is a property that an object or a thing has of itself, independently of other things, including its context. An extrinsic (or relational) property is a property that depends on a thing’s relationship with other things. For example, mass is an intrinsic property of any physical object, whereas weight is an extrinsic property that varies depending on the strength of the gravitational field in which the respective object is placed. As such, the question of intrinsicality and extrinsicality in empirically observable objects is a significant field of study in ontology, the branch of philosophy concerned with explaining the fundamental nature of being.
Gini Coefficient World CIA Report 2009
Differences in national income equality around the world as measured by the national Gini coefficient. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income, and everyone else has zero income).
Economic inequality (also described as the gap between rich and poor, income inequality, wealth disparity, or wealth and income differences) is the difference between individuals or populations in the distribution of their assets, wealth, or income. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among countries. The issue of economic inequality involves equity, equality of outcome, equality of opportunity, and life expectancy.
Opinions differ on the utility of inequality and its effects. A 2010 study considered it beneficial, while other recent studies consider it a growing social problem. While some inequality promotes investment, too much inequality is destructive. Income inequality can hinder long term growth. Statistical studies comparing inequality to year-over-year economic growth have been inconclusive; however in 2011, researchers from the International Monetary Fund published that income equality was more determinate of the duration of countries’ growth spells than free trade, low government corruption, foreign investment, or low foreign debt.
Economic inequality varies between societies, historical periods, economic structures and systems (for example, capitalism orsocialism), and between individuals’ abilities to create wealth. The term can refer to cross sectional descriptions of the income or wealth at any particular period, and to the lifetime income and wealth over longer periods of time. There are various numerical indices for measuring economic inequality. A prominent one is the Gini coefficient, but there are also many other methods.
Ethics, also known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct, often addressing disputes of moral diversity. The term comes from the Greek word ethos, which means “character”. Ethics is a complement to Aesthetics in the philosophy field of Axiology. In philosophy, ethics studies the moral behavior in humans and how one should act. Ethics may be divided into four major areas of study:
- Meta-ethics, about the theoretical meaning and reference of moral propositions and how their truth values (if any) may be determined;
- Normative ethics, about the practical means of determining a moral course of action;
- Applied ethics, about how moral outcomes can be achieved in specific situations;
- Descriptive ethics, also known as comparative ethics, is the study of people’s beliefs about morality;
Ethics seeks to resolve questions dealing with human morality—concepts such as good and evil, right and wrong, virtue and vice, justice and crime.
Political philosophy is the study of topics such as politics, liberty, justice, property, rights, law, and the enforcement of a legal code by authority: what they are, why (or even if) they are needed, what, if anything, makes a government legitimate, what rights and freedoms it should protect and why, what form it should take and why, what the law is, and what duties citizens owe to a legitimate government, if any, and when it may be legitimately overthrown, if ever. In a vernacular sense, the term “political philosophy” often refers to a general view, or specific ethic, political belief or attitude, about politics that does not necessarily belong to the technical discipline of philosophy. In short, political philosophy is the activity, as with all philosophy, whereby the conceptual apparatus behind such concepts as aforementioned are analyzed, in their history, intent, evolution and the like.
Consequentialism is the class of normative ethical theories holding that the consequences of one’s conduct are the ultimate basis for any judgment about the rightness of that conduct. Thus, from a consequentialist standpoint, a morally right act (or omission) is one that will produce a good outcome, or consequence.
Consequentialism is usually distinguished from deontological ethics (or deontology), in that deontology derives the rightness or wrongness of one’s conduct from the character of the behaviour itself rather than the outcomes of the conduct. It is also distinguished from virtue ethics, which focuses on the character of the agent rather than on the nature or consequences of the act (or omission) itself, and pragmatic ethics which treats morality like science: advancing socially over the course of many lifetimes, such that any moral criterion is subject to revision. Consequentialist theories differ in how they define moral goods.