A holiday is a day set aside by custom or by law on which normal activities, especially business or work, are suspended or reduced. Generally, holidays are intended to allow individuals to celebrate or commemorate an event or tradition of cultural or religious significance. Holidays may be designated by governments, religious institutions, or other groups or organizations. The degree to which normal activities are reduced by a holiday may depend on local laws, customs, the type of job being held or even personal choices.
The concept of holidays has most often originated in connection with religious observances. The intention of a holiday was typically to allow individuals to tend to religious duties associated with important dates on the calendar. In most modern societies, however, holidays serve as much of a recreational function as any other weekend days or activities.
In many societies there are important distinctions between holidays designated by governments and holidays designated by religious institutions. For example, in many predominantly Christian nations, government-designed holidays may center on Christian holidays, though non-Christians may instead observe religious holidays associated with their faith. In some cases, a holiday may only be nominally observed. For example, many Jews in the Americas and Europe treat the relatively minor Jewish holiday of Hanukkah as a "working holiday", changing very little of their daily routines for this day.
The project originated with John Hegeman and his Distant Corners Entertainment. Tim Connors and Adam Egypt Mortimer are also producing, as well as Kyle Franke and Aram Tertzakian from XYZ Films. Executive producers are Andrew Barrer and Gabe Ferrari, and Nate Bolotin and Nick Spicer of XYZ.
In jurisdictions following the Englishcommon law, equity is the set of maxims that "reign over all the law" and "from which flow all civil laws". The Chancery, the office of equity, was the "office that issued the writs that were the foundation of the common law system". Equity is wholly "unaffected by any state laws” (Pomeroy) and is "everything, even without law".
Equity is commonly said to "mitigate the rigour of common law", allowing courts to use their discretion and apply justice in accordance with natural law. In practice, modern equity is limited by substantive and procedural rules, and English and Australian legal writers tend to focus on technical aspects of equity. Twelve "vague ethical statements", known as the maxims of equity, guide the application of equity, and an additional five can be added.
A historical criticism of equity while it developed was that it lacked fixed rules, with the Lord Chancellor occasionally judging in the main according to his conscience. The rules of equity later lost much of their flexibility, and from the 17th century onwards, equity was rapidly consolidated into a system of precedents (or case law) much like its common-law cousin.
Equity or economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics. More specifically, it may refer to equal life chances regardless of identity, to provide all citizens with a basic and equal minimum of income, goods, and services or to increase funds and commitment for redistribution.
Inequality and inequities have significantly increased in recent decades, possibly driven by the worldwide economic processes of globalisation, economic liberalisation and integration. This has led to states ‘lagging behind’ on headline goals such as the Millennium Development Goals (MDGs) and different levels of inequity between states have been argued to have played a role in the impact of the global economic crisis of 2008–2009.
Equity is based on the idea of moral equality. Equity looks at the distribution of capital, goods and access to services throughout an economy and is often measured using tools such as the Gini index. Equity may be distinguished from economic efficiency in overall evaluation of social welfare. Although 'equity' has broader uses, it may be posed as a counterpart to economic inequality in yielding a "good" distribution of wealth. It has been studied in experimental economics as inequity aversion. Low levels of equity are associated with life chances based on inherited wealth, social exclusion and the resulting poor access to basic services and intergenerational poverty resulting in a negative effect on growth, financial instability, crime and increasing political instability.