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Democracy and Economy - Essay Example

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This essay discusses the connections between democracy and economy. The researcher of this essay also discusses the democracy term and mostly focuses on the issue, in which universal concept of political stability today is glued with stability of democracy in the country…
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Democracy and Economy
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Democracy and Economy

Download file to see previous pages... ( Reginald Chua (2000)) .Democracy do have its cons which hinders the path of development in one way or another for example in the country where literacy rates are very low , where the cast system are very much prevalent , people are emotional there the very basic foundation of democracy, the right of people to elect their representative to govern them is massively distorted , the people there usually are unaware of their own rights and their usage so in those countries only corrupt people come in democracy and use it only for their own self interest and people's development is totally ignored.
Well if any authoritarian country's administration make sure the right of people are well protected and assure their personal , professional and economical growth, maintain good standard of living for its inhabitants, provide them with basic facilities of life, provide them with employment then the development of the country is inveterate.

The living example of it is China and Singapore. Hans F.Sennholz (2007) stated "The most startling progress over the last two decades has been in China which labors under and authoritarian regime". The world poorest democratic states are also as much democratic as the wealthier states but the difference lies in governance (Hans 2007). The key point of this statement is that development is not correlated to democracy that much than it is related to the governance of the country. Some of the countries which has been liberated in early twentieth century like Australia in 1901and New Zealand in 1947 they had government institutes running previously with much of an ideology and legal methods so after freedom they didn't have to work from scratch but those countries which were deprive of such institutions and...
The researcher of this essay states that if we look to the meaning of development then according to American heritage Dictionary of English Language (2006) it is define as “A progression from simpler or lower to a more advance, mature or complex form of state or stage” it is also define as “act of developing “. Development also have some key indicators which help the economist to access the development rate of the country some of them are per capita income, literacy rate, unemployment rate, standard of living, availability of basic facilities like electricity and gas etc. Democracy in this dictionary is define as “government by the people; a form of government in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system”. The researcher then focuses on the analysis of the Asia’s democracies, such as India and Philippines, that are less progressive than the other authoritarian government, such as China or North Korea. Summing up the discussion the researcher can say one thing with utmost authentication and that is the factor that matter much more than democracy or no democracy is the leader, along with his/her leadership qualities, social culture and pressure economic policies and rule of law, if these factors and may other major and minor factors of economy are being effectively implemented and foster into positive direction then the development is 100% bound to come else nothing can guarantee development what so ever. ...Download file to see next pagesRead More
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