Question

Who does economic growth mean the most to: Those living in poverty, The economic middle class, or the wealthy?

Please explain your answer.

Answer 1

Economic growth mainly aims at increase in GDP, increasing the average income, reducing the income inequality on the whole. To reduce the income inequality the poverty must reduce and to rise the average income and reduce the income inequality, the incomes of middle class men are required to improve. FInally to get more GDP, the wealthy people or the business men are required to purchase more. Therefore, on the whole, economic growth refers to each and every sector of the society.