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“Equity as a Social Goal seeks to clarify the notion of equity, or fairness, as a goal of public policy. The authors, Cathy Buchanan and Peter Hartley, consider what the goals of public policy ought to be, given the limitations of human nature and real-world social institutions. They argue that both liberty and efficiency must be included among our social goals. While horizontal equity, or non-discriminatory treatment of equals, is desirable, attempting to equalise income or material wealth is misguided.

Neither income nor wealth is a good indicator or personal well-being. Redistributing to equalise income or wealth could therefore exacerbate inequality in living standards.

Equity as a Social Goal concludes that preserving liberty and efficiency requires us to safeguard the right of all people to use their labour and property as they see fit. A proper balance among liberty, efficiency and equity can be achieved by ensuring that each person is equal before the law, by promulgating a belief in the power and duty of families and charities to assist those in need, and by creating a limited government welfare programme to aid people who fail to receive assistance elsewhere.”