How are disparities minimised in a socialist economy.
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it is not easy to remove the disparities as a whole but they can be minimised.
first of all we have to understand that what is a socialist economy,so it is an economy in which government plays a major role to promote social welfare.
so as to minimise the disparities the government should allowed to produce more of the goods in favour of the marginalised group and to minimise the disparities the government should impose progressive tax so that persons with high income pay more tax and then the whole burden is not on the poor section.
equal distribution of income also helped in minimising the disparities in socialist economy.
first of all we have to understand that what is a socialist economy,so it is an economy in which government plays a major role to promote social welfare.
so as to minimise the disparities the government should allowed to produce more of the goods in favour of the marginalised group and to minimise the disparities the government should impose progressive tax so that persons with high income pay more tax and then the whole burden is not on the poor section.
equal distribution of income also helped in minimising the disparities in socialist economy.
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