Predistribution is a political term that refers to policies aimed at reducing the imbalances of wealth and power before taxes and transfers. The IPA phonetic transcription of predistribution is /priːdɪstrɪˈbjuːʃən/. The first syllable is pronounced like "pre-" in "preview", and the second syllable rhymes with "kissed". The stress is on the third syllable, which sounds like "strib". The final syllable ends with the sound "shun", which also appears in words like "distribution" and "evolution".
Predistribution is a concept that refers to the redistribution of wealth and income through economic policies and market mechanisms even before it is accumulated or earned by individuals or businesses. Unlike traditional redistribution, which focuses on redistributing income and wealth after they have been acquired, predistribution aims to address inequality and promote fairness by intervening in the initial distribution of resources.
The term "predistribution" emphasizes the idea that economic inequality can be mitigated through proactive measures in the economic system itself, rather than relying solely on redistributive measures like taxes and social welfare programs. Proponents argue that by correcting the imbalances and injustices in the initial distribution of wealth and income, predistribution can create a more equitable society and reduce the need for extensive redistribution later on.
Predistribution policies can take various forms, such as increasing minimum wages, strengthening workers' rights, promoting employee ownership in businesses, investing in education and skills training, and providing affordable housing. These measures are intended to create a more level playing field and ensure that the benefits of economic growth are shared more equally among all members of society.
Overall, predistribution seeks to address income and wealth inequality at its roots by focusing on economic policies that promote fair and inclusive economic opportunities for all, aiming to prevent excessive concentration of wealth and the resulting social and economic disparities.