Choose whether the given statement is True/False:

Democracies are very successful in poverty eradication and decreasing economic inequality.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
One might conclude that democratic countries are dealing with challenges like economic inequality and an increasing gap between the rich and the poor after examining the economic growth rates of various nations from 1950 to 2000. All democratic governments experienced growth rates of 3.95%, whilst all autocratic governments experienced growth rates of 4.42%. Poor nations experienced growth rates of 4.28% under democracies and 4.34% under dictatorships, respectively. However, it may be because democracies prioritise political equality over economic equality.
Thus, the correct statement would be that democracies are not very successful in poverty eradication and decreasing economic inequality.

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