In Economics, which is more democratic, equality or efficiency?

Answer 1

High levels of income inequality and efficient economies are not usually found to exists together, for example the South American countries. What seems to happen is the income inequality causes political instability, and government favoritism which leads to the loss of both democracy and efficiency. All of the developed countries of the world except the US in recent decades have only moderate income inequality. see
http://www.visualizingeconomics.com/2006/01/04/gdp-per-capital-vs-gini-index/