Increase in total income of a country may or may not lead to greater welfare of the masses. Comment on this.
Increase in total income of a country can be beneficial if the increase is evenly spread over different social groups. However if only the rich get richer and the poor remain where they were, income growth does not lead to growth in social welfare. Growth of high tech jobs has made things better off for only a select group of people in India. The great majority of people specially in the rural sector have remained untouched by the boom in national economy.
AI is thinking…
Couldn't generate an explanation.
Generated by AI. May contain inaccuracies — always verify with your textbook.