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is that of the negative impact democracy has on the economy as noted by Przeworski & Fernando (1993).The pro-dictatorial stand taken by their article argues strongly against the public choice theory (Przeworski & Fernando, 1993, p.8). The public choice theory which advocates for minimal government questions the true existence of democracy by arguing that bureaucrats, states, politicians and citizens act solely from a perspective of self interest. Such encourages acts of corruption from the above parties which in turn diminishes economic development. Governments exercise authorities and powers designed for selfish needs of their own. Politicians use resources of the government to maintain and consolidate positions of authority and power. States employ powers to confiscate individuals’ private properties. Citizens use influence from politicians to attain exceptional benefits. Bureaucrats extract bribes from citizens seeking for the benefits and protect their businesses (Przeworski & Fernando, 1993, p.8). The same theory however, proposes an opposing hypothesis where minimal government justifies freedom for all where the government liberates its citizens to participate in economic development and this in turn would translate into a higher GDP and per capita rates thus positive development of the economy. The theory may also assume a null hypothesis where the levels of democracy have neither positive nor negative relation to the economic development. Such is when the natural circumstances of a country are protagonist to economic activity. (Przeworski & Fernando, 1993, p.8)
Wickrama and Mulford (1996) generate a hypothesis in which the levels of democracy is said to lead to the achievement of proportional levels of economic development. Their restrictive model of real GDP growth per capita supports the concept that the highest growing nations have a relatively high democracy level. A research carried out between the years 1960 and 2010 has findings on the same
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For the post-industrial society the main factor is the production of knowledge, and basic product manufacturing - service. The characteristic features of the production of such a society are not a lack of manual labor and simple mechanisms, and full automation and computerization of society.
THE ROLE OF TECHNOLOGY IN ECONOMIC DEVELOPMENT
Technology is a set of new ideas that help in increasing the output levels with the application of same amount of input. This study entails about the various roles played by technology towards the economic development of a particular nation.
The level of economic development is usually observed in different areas or segments that include business productivity and employment among others. In this similar concern, it is mainly considered to improve human welfare activities and most significantly to minimize the significant problem of poverty.
Author therefore attempted to discuss the question of how the rentier states can actually develop their relationship with the citizens and what are some of the factors which can actively contribute towards the strengthening of this relationship? The article by Ross contains the major research question which is based on the assumption of whether the oil actually results into the hurdles for democracy.
Particular attention is given to the democratic development model out of various models of democracy in the West. It is because some of the political concepts and practices have been attempted straightway only in the West (Held, 2006). Development democracy proclaims that political role play is a right thing in itself and plays a pivotal part in the growth of a participatory, well-versed and knowledgeable citizenry.
This has occurred through the role of Japan in war, their contact with Western countries, the growth of their economy, the people of Japan and their culture. This discussion examines each of these elements in detail, and argues that Japan is now one of the most competitive and developed country within Asia.
In fact, in high-income generating economies, aggregate demand for coffee is nominally influenced by a change in price; in effect it would be proper to say that industrialised nations pose a relatively inelastic demand for coffee. USA is a good example
an planning is a diverse activity in scope that primarily deals with designing urban environments through control and monitoring of land use in urban areas (Levy 243). Social, economic and political factors are integral to urban planning. An effective economic development-urban
In this report, we will get introduced to different types of democracies that are common in third world countries. The paper will also provide information about third world countries who are still dominated by military