“Democracies are not appearing to be very successful in reducing economic inequalities.” Analyse the statement.
Answer:
Democracy and the economic outcomes
- Slow economic development and economic growth due to population
- Basic needs of life, such as food, clothing, shelter are difficult to make
- Prevalence of Economic Inequalities
- Poverty is still a big issue
- Allocation of resources in few hands
- Unjust distribution of goods and opportunities