Relationship Between Prosperity And Democracy Essay

1947 Words May 6th, 2015 8 Pages
At the very basic level, a democratic structure can be defined as an ‘institutional arrangement for arriving at political decisions in which individuals acquire the power to decide by means of a competitive struggle for the people’s vote’ (Schumpeter 1942 cited in Menocal 2007).
The positive relationship between prosperity and democracy has an enduring relationship in the subject of social sciences. Although there does exist a strong correlation, it does not necessarily mean causation.
However, much of the response to the question about the relations concerning democracy and development usually depends on how one defines ‘development’. Sen (1999b) sees development as ‘freedom’ – this includes not only the economic freedom but also freedoms such has ‘human and political rights, social opportunities, transparency guarantees and protective security, then by definition democracy must lead to development.’ Conversely if one looks at Stiglitz (2003), he looks at the ‘transformation of society’ which goes further than just economic growth but also includes social dimensions like literacy, distribution of income, life expectancy. (Menocal 2007)
Although there is a predominant view that democracy has neither a negative effect on GDP nor no overall effect, certain countries which have authoritarian political systems are expected to grow as rapidly as democracies and it should not be forgotten that most rich countries have only become rich under authoritarian regimes. (Gerring et al.…

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