What is parity?
The word parity comes from the Latin word paritas, which means equality. Therefore, speaking of what parity is, we can say that it is equality, equivalence of processes, relations, things and phenomena.
Now the word parity is used in different areas, finding different semantic coloring.
- In economics, there is the concept of currency parity, meaning the ratio between the monetary units of countries according to their gold supply or purchasing power.
- In politics, parity means equal relations between countries and equal representation of the parties in various international organizations and summits.
- In the legal case, parity means equal representation of the parties in arbitration or litigation.
- In military science, the word parity is also used. The meaning of this term is the strategic equality of countries (parties) in armaments and their deployment.
- In the financial case, there is the concept of parity of a stock, meaning the nominal value of a stock or a security.