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A democratic political system is an essential condition for sustained economic progress Discuss?
A democratic political system allows everyone's opinion to be heard and considered. This means that those in business have the right to raise concerns on issues pertaining to their businesses. It also allows for reforms or improvements to be done in areas that may not be working properly.
What kind of government makes political economic and social decisions?
Democratic Government.
A democratic political system is an essential condition for sustained economic progress?
Typically the advantage of the free market economy coupled with a democratic political system is best suited for sustained economic progress. The free market economy offers basic incentives for entrepreneurship versus a state-owned which would offer nothing. The sustainability will be a direct derivative of competition which also would be non-existent in a state owned economy. Hill the author, claims China, South Korea, Taiwan, Singapore, and Hong Kong have all been exceptions to the rule citing each fostering a market economy with strong property rights protection. Hill continues to tell us that a democracy may not be a condition of economic stimulation but subsequent growth may follow with a democratic regime.
What war caused sustained economic growth?
World War 2 caused sustained economic growth.
Is a capitalist economic system compatible with a democratic political system?
A democratic political system is compatible with any economic system that the majority of the voters like. At the present time we have no pure capitalist systems, we have mixed systems, which include some elements of the free market, and some elements of socialism. Even so, the economy of the US is largely capitalist in nature, and the political system is democratic. These may not be perfectly compatible, but they have functioned together for over 200 years.
