Democratic Political System

Topics: Economics, Democracy, Market economy Pages: 1 (284 words) Published: April 27, 2013
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.

Economic growth and progress today means improvement in all of the following: 1. Sustained increase in GNP per capita in real terms and on purchasing power basis for comparison with other countries/ past years, 2. Better Income distribution

3. Sustained growth of Informal and household sector production 4. Lowering of social and environmental cost including cost of depletion of nonrenewable resources 5. Lowering of Energy input/GDP ratio

6. Community-based economic harmony
7. Lower (reasonable) Military/civilian budget ratio
8. Growth of infrastructure and public resources
9. Better Education: literacy levels, school dropout and repetition rates 10. Better Health: infant mortality, low birth weight, weight/height/age ratio 11. Better Nutrition: e.g., calories per day, protein/carbohydrates ratio, etc. 12. Adequate expansion of basic services: telephones, water, sanitation, electrification, etc. 13. Shelter: housing availability/quality, etc.

14. Better Child development
15. Stronger civil society, greater and freer participation of people in Political participation and democratic process.
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