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Does Democracy Help the Economy?

A very interesting (if not emotionally charged) question that one of the Ted talks asks.

Economist Yasheng Huang compares China to India, and asks how China’s authoritarian rule contributed to its astonishing economic growth — leading to a big question: Is democracy actually holding India back? Huang’s answer may surprise you.

No, I am not saying Canada should go totaletarian (any more than it might already be (sorry I was channeling my inner NDP)), but it is a very interesting argument about whether Democracies intrinsic “… let’s all be fair …” rules impeed true free enterprise? Yes it does, but I am not trading Democracy to make business a little easier, and under one party rule (to put it as politely as possible), corruption is much easier to run rampant, so I will take my Democracy thanks.

Feel Free to Comment

  1. the CIA index of economic development show that economic growth is highly related to democracy. I think the real question is how much faster would China grow if it was democratic

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