Socio-Economic Equality

 

The term socio-economic equality describes a theoretical circumstance or goal where all people have an equal social (position, rank, or importance) and economic (income, pay, and wealth) status.

 

Example:

 

In the Communist Manifesto, Karl Marx described his plan for how to achieve and maintain total socio-economic equality so that no one person would ever be able to have more than anyone else.