The Importance Of Democracy In Economic Development

Is democracy excellent for the economic growth? Democracy is a multifaceted concept, a political structure based ahead the right of citizens to take part in political decision making during representation; whereby simply laws essential to continuing democratic procedures are compulsory standard to terming a state democratic.

In a democratic government also depends on freedom of press and freedom of assembly. Freedom of press is the occurrences that happen every day that are informed or detailed through television, newspaper, internet, magazines or speech without adding or removing any type of information that do not benefit a particular sector. And also is that the people have the right to have their own type of press to express their ideas. Today, freedom of press is a utopia because every country has their own secrets, and covers important information to their citizens. With freedom of press, the countries will have a perfect government not so perfect but the people need to know the truth. The democratic government is a form of government in which the people, either directly or indirectly, take part in governing. “Democracy is the worst form of government except for all those others that have been tried.” This is because there is no system that can perfectly order society. Usually the purpose of democracy is to prevent tyranny (the accumulation of

There would be no improvement in the country if there was no democracy. I think that is it very important to have one because a country cannot thrive if others opinions are not adhered. Democracy is really what you put into it

Since people at the top of society only care about their own personal gain, they do not worry about improving the economy as a whole. As previously mentioned, economic growth often makes the transition to democracy much easier.

An important element to consider is the role democracy plays on presidential terms and elections. The respect of human rights is a significant attribute in a democratic environment and economy. Democracy allows the rights of citizens to be respected, such as an individual’s speech, religion or ethnicity. In a democratic economy every citizen has the

In his argument on the universal value of democracy Amartya Sen discusses the relationship between democracy and economic development. He notes that it is often claimed that nondemocratic systems are better at bringing about economic development than democratic ones. Sen disagrees with this claim. He asserts that this hypothesis is based on "very selective and limited information" (3). He admits that it is true that some disciplinarian states, like South Korea, Singapore, and postreform China, have had faster rates of economic growth than many less authoritarian ones, like India, Jamaica, and Costa Rica (3). However, he points out that this very selective evidence cannot be used to establish the general hypothesis that nondemocratic systems are better at bringing about economic development (3). "There is no convincing evidence that authoritarian governance and the suppression of political and civil rights are

Democracy: A political system in which citizens enjoy a number of basic civil and political rights, and in which their most important political leaders are elected in free and fair elections and accountable under a rule of law (26). In the studies we have undertaken, comparing and exploring various countries and systems politically, economically, and psychologically throughout the quarter, this outcry of democracy has prevailed as a main theme. Successful countries such as the United States and Great Britain are based upon such democratic ideals. It is no wonder that countries have striven more recently toward this goal of democratization. Both the Russian and Mexican revolutions prove that democracy is an attainable goal in the next

In United States the economic democracy is gaining a foothold, it is working on building sustainable local living economies, democratizing the money supply, creating banks that are

is necessary to the quality of democracy because they "attempt to increase social justice, improve economic efficiency, encourage

Democracy is mostly good for small and older communities, where the whole town or community can get together and vote together on decisions that

As stated before, some people argue that there is a relationship between both indicators, with economic development causing democracy. Based on the data presented here, I would say that that might be true in some countries, but not in the ones that have been addressed here. For example, Russia has a greater GDP per capita than Mexico, but it is considered to be a not free country, while Mexico is a partly free one with a lower GDP per capita. Yes, Russians might have a greater income per capita, but they are not free people. In sum, it can be said that democracy and economic development play huge roles in the development of a country, however these are not the only factors that need to be taken into consideration, and it

In his argument on the universal value of democracy Amartya Sen discusses the relationship between democracy and economic development. He notes that it is often claimed that nondemocratic systems are better at bringing about economic development than democratic ones. Sen disagrees with this claim. He asserts that this hypothesis is based on "very selective and limited information" (3). He admits that it is true that some disciplinarian states, like South Korea, Singapore, and postreform China, have had faster rates of economic growth than many less authoritarian ones, like India, Jamaica, and Costa Rica (3). However, he points out that this very selective evidence cannot be used

Since the initiation of the Third Wave of Democracy, several countries have attempted to form a democratic system of governs. We take note that not all have succeeded. At the dawn of this era, democracy was being applied to countries with no prior history of a governing body that was place by the people for the people hence success of such a system could not be guaranteed because of the innumerous variables that existed in each country. People being the highlighted factor of variance, it may become easier to understand how countries such as Pakistan and Nigeria, both countries prior to the Wave had no local governing machinery. Pakistan further endured a partition from India which resulted in not only an instant religious and

Winston Churchill once remarked that “democracy is the worst form of government except all the others that have been tried”. In agreement with his statement, this paper will examine the problems of democratic governments using specific examples, and compare it to the failure of fascist governments in Nazi Germany and Italy and communist governments in the Soviet Union and China.

In the Acemeglu, Johnson and Robinson article, “Institutions as a Fundamental Cause of Long Term Growth”, the authors emphasize how institutions are the main determinant of economic development because stronger institutions allow for more growth in education, security, and health. To observe whether strong institutions determine economic growth it is important to mention the characteristics of a strong institution that allows for fast growth. Strong institutions are able to enforce property rights, a fair judiciary, efficient bureaucracies, intellectual property rights, corporation government bankruptcy laws, and democracy (e.g. “(Lecture 13)”). Going in depth