“Economic growth in democracies is accompanied by increased inequalities among the people”. Explain.
The following points explain that economic growth in democracies is accompanied by increased inequalities among the people
(i) Democracies are based on political equality.
(ii) All individuals have equal rights in electing representatives.
(iii) Parallel to. the process of bringing individuals into the political arena on an equal footing, we find growing economic inequalities.
(iv) A small number of ultra-rich enjoy a highly disproportionate share of wealth and incomes.
Not only that, their share in the total income of the country has been increasing.
(v) Those at the bottom of society have very little to depend upon. Their incomes have been declining.
Sometimes, they find it difficult to meet their basic needs of life such as food, clothing, housing, education and health. In actual life, democracies do not appear to be very successful in reducing economic inequalities.