Answer: Economic equality refers to a relatively equal distribution of resources and opportunities among individuals. Whereas, absolute economic equality, suggests a state where every member possesses the exact same level of wealth and income, which is considered both unattainable and undesirable in practice.

At the same time, extreme inequality refers to a significant and disproportionate disparity in wealth, income, or resources between the richest and poorest members of society which again is undesirable. Therefore, there is a need to achieve a state of reasonable equality which refers to a state where there are still some disparities, but the gaps between the wealthiest and poorest members of society are significantly reduced and more balanced (Article 39 (b) and (c) are provided to counter extreme inequality).

Reasons why absolute economic equality is not possible:

• Varied skills: Not everyone is equal in skills and talents, therefore, doctors, engineers, and artists may contribute differently in society and derive varied remuneration.
• Global economic disparities: Achieving absolute economic equality is complex due to disparities in resources, infrastructure, and geopolitical factors among countries due to uneven distribution of wealth and resources.

Reasons why absolute economic equality is not desirable:

• Incentive and motivation: Absolute economic equality may discourage individuals from striving for success and productivity.
• Resource allocation and efficiency: Allocating the same amount of resources to everyone, regardless of their needs, could lead to inefficiencies.
• Economic growth and development: In certain circumstances, economic inequality can serve as a driving force for economic growth and development. It can incentivize investments, innovation, and entrepreneurship, leading to overall prosperity.
• For example, entrepreneurs may take risks and invest in new ventures due to the potential for higher returns.

Since absolute economic equality is neither possible nor desirable, only option the society is left with is to reduce the gap between its rich and the poor members. However, reducing the gap between rich and poor by development of underprivileged-class and not by diminishing wealth of the rich, can be the first step to achieve reasonable economic equality. It requires integrated effort to rout out not just economic but socio-political causes of inequality as well through appropriate affirmative actions.