Democracy means the power of the people, which is exercised in two ways: directly and indirectly. Greenberg states that “democracy’s central idea is that ordinary people want to rule themselves and are capable of doing so” (p.3). In theory, democracy puts all members of society in an equal position: everyone has the right to vote and be reelected, to take part in the management of society and the state. In practice, this does not suit the privileged part of society, which always remains in the minority and risks losing advantages. That is why in the interpretation of democracy there are many reservations containing concerns about incompetence of ordinary citizens or lack of consideration of minority interests by the majority.
The equality of income and wealth remain the central issue of democracy, since, though democratic societies strive to egalitarianism, they fall short of ensuring equal income and wealth to everyone. This fact is largely brought about by the desires of the elites who want to ensure they get the best part of resources and money. J. Schumpeter, a proponent of the elitist concept of democracy, indirectly recognizes that the existence of relative social equality and even some homogeneity of society is an important condition for democracy. However, within this homogeneity, income and wealth are distributed depending on the qualifications of people, their opportunities and needs. Therefore, while basic income is ensured to everyone, the accumulation of wealth by the elites is possible within democratic structures. Democracy might make a country more or less egalitarian since it ensures the basic minimum of income, rights and benefits that all citizens are entitled to. While the maximum benefits a person is able to get largely depend on his or her abilities and connections, democratic societies remain largely homogeneous in that they provide equal opportunities to get to the top for everyone.
References
Greenberg, E. S. & Page I. The Struggle for Democracy. 2018 Elections and Updates Edition. Pearson.
Piano, N. (2019). Revisiting democratic elitism: the Italian school of elitism, American political science, and the problem of plutocracy.The Journal of Politics, 81(2), 524-538.