Question
There is a view that absolute economic equality is neither possible nor desirable. It is argued that the most a society can do is to try and reduce the gaps between the richest and poorest members of society. Do you agree?

Answer

It refers to availability of equal opportunities to one and all present in the society, without any discrimination.
Absolute economic equality of income has never existed in society. But democratic set up provides equal opportunities to at least those who are capable and possess potential with equal opportunities, inequalities may exist between individuals, but one’s position may be improved with the sincere efforts in the society.
  1. Economic Inequalities:
  1. Economic inequalities exist if there are differences in wealth, property or income between different sections of society.
  2. It enhances the gap between the upper, middle,poor-rich and persons living below the poverty line
  1. Measurement of economic inequalities:
  1. To estimate the number of people who are living below the poverty line.
  2. To find out the differences between the rich and poor.
  1. Importance of economic equality:
  1. Economic equality guarantees each and everybody equal opportunities.
  2. Economic equality reduces the gap between the rich and the poor or high or middle class,etc.
  3. Economic disparities can make society more violent because the reforms cannot take place in such a society.

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