The statement suggests that without economic equality, political freedom and democracy are meaningless. This implies that economic equality is essential for true political freedom and democracy, which supports Conclusion II.
Conclusion I ("Political freedom and democracy go hand in hand") is not directly supported by the statement, as it focuses on the importance of economic equality rather than the relationship between political freedom and democracy. Therefore, only Conclusion II follows.
So, the correct option is (B): If only conclusion II follows.