Please clarify the definition of "Economic Equality".
If you mean "Everyone has the same economic capability", then that would be communism, and is not really compatible with Democracy.
If you mean "Everyone has access to the same potential for economic success", then I'd say that it's entirely compatible, and if the system is set up correctly, it will be the necessary outcome. But no democracy has been set up correctly, yet.
The key difference between the former and latter cases has to do with the difference between rewarding harder (or smarter, or more important, or more beneficial) work and treating everyone as equal independent of their contribution. Both are different from what we have right now, which is where economic capability is tied to parents' economic capability, social circumstances, etc. A kid in a poor family has far less chance to succeed than a kid in a rich family if both kids have the same skills, dedication, etc.
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