Wednesday, November 02, 2005

Democracy and economic growth

"Democracy's drawbacks"
The Economist
October 27, 2005

The authors argue that India's growth is in spite of its political climate instead of because of it. As an example, the authors point to the "mountain of subsidies" and the presence of a behemoth bureaucracy.
This raises the seemingly troubling question - is democracy, despite all of its positives, really the best facilitator of sustainable economic growth and development?

No comments: