what is the difference between diversity and inequality
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Diversity means having a heterogeneous population with different preferences, different backgrounds, different skills. .... Inequality means having a heterogeneous set of economic outcomes, like income, wealth, or consumption.
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Explanation:
- Diversity means having a heterogeneous population with different preferences, different backgrounds, different skills. Diversity is good for an economy, creating more opportunities to exploit comparative advantages.
- Inequality means having a heterogeneous set of economic outcomes, like income, wealth, or consumption. If you have a diverse population, that will naturally engender some inequality. But too much inequality will cause problems. In particular, inequality of wealth often leads some people to effectively have more rights and privileges than other
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