Economic equality refers to a situation where individuals have similar levels of income and wealth, reducing the gap between the rich and the poor. This concept aims to ensure that everyone has access to basic resources, opportunities, and services, allowing for a fairer distribution of economic benefits within a society. Achieving economic equality can involve various policies and practices, such as progressive taxation, social welfare programs, and equal access to education and healthcare. By addressing disparities, societies can promote social stability and improve overall quality of life for all citizens, fostering a more inclusive environment for growth and development.