Common meaning:

A system of ideas that try to explain why something exists and how it operates.

Hidden meaning of the Equity religion: 

Equity belief in which everything that exists in society can be explained by an oppressor vs. oppressed dynamic.

Discussion:

The Equity believers think that to understand what is really going on in society, we need to identify how people are being oppressed. We will get a true picture of reality only when oppressors are disrupted. Discover the domination and you explain everything.

Life is very complicated, and it doesn’t take much brain power to figure out that a lot of situations are caused by multiple variables. The Equityists, however, disagree; they think that nothing else has any impact on situations in life other than the oppressor versus the oppressed dynamic. It is this and only this that causes everything we see.

The Equity faithful are wrong about Western society, but instead of evaluating evidence and thinking clearly, they double down on their religious belief of Equity.

Beware of the false theory.