In an equitable society, everyone will have the same opportunities to pursue a life of their choosing, whether this in terms of acquiring an education, obtaining credit, finding a job or participating in the public debate, regardless of their county of birth, the wealth and social status of their parents, or their gender, race, caste, ethnicity or social class. The distribution of incomes, education levels, wealth and other assets will typically be uneven even in an equitable society, because people differ in the effort they make, how they choose to spend their time, in their desire to bear risks, or in the way they process information. But everyone should have the opportunity to make the most of their talents and energies. When they do so, it is not only good and just and fair for the individual, it is good for the society as a whole, because equity and growth are, in the long run, complementary. Equity is not the same as equality. This year's World Development Report, focuses on equity. And I'm following the usage of equity in that report that was just issued where equity is defined as equality of opportunities, where opportunities are factors that make it possible for people to generate a certain income and achieve a certain level of well-being. Note that this is not the same as equality in income. Inequality of incomes is not only acceptable, but it may even be desirable for the incentives it provides for people to do well. But inequalities in opportunity not only harm the individual but can retard growth.