Democracy

Democracy still the best model for growth

It might not seem obvious after the debt debacle in America, but democracy is still the only game in town for sustained economic growth.
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Does it matter what the placard says?
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<div style="text-align: left;"> Does it matter what the placard says? </div>

British playwright Tom Stoppard once joked that if voting mattered, they’ wouldn’t allow it, which was funny because of the truth it contained. But most of our readers did not share Stoppard’s cynicism when we asked them last week if democracy was a luxury or a driver of growth. We are pleased to report that most said democracy promotes economic growth, which most studies seem to agree with.

However, studies into the relationship between votes and policy how much power voters have suggest a weak relationship. America’s deficit is a good example. Voters had little say in most of the country’s biggest spending decisions, such as the conflicts in Afghanistan...

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