Solution:
This statement is true.Democracies do not appear to be very successful in reducing economic inequality.
1) The economic imbalance between the rich and the poor is increasing in democratic countries. A small number of the wealthy account for a highly disproportionate percentage of revenue and wealth, and their percentage of the country's total income is increasing.
2) There has been a decline in the income of the poor, they find it tough to meet their basic needs. Democracy gradually reduces the number of poor from poverty and hunger.
3) The slow decision-making process also affects equality among people.
