how democracy is reducing the economic development??
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Yes, economic growth under a democratic system is much harder to achieve than under a fascist regime. However, growth is only one of many aspects of an economy, two of the other aspects are longevity and sustainability, also when an economy does achieve the growth under a democratic system, the gain is purer and the effect is long-lasting.
A 2006 meta-analysis found that democracyhas no direct effect on economic growth. However, it has strong and significant indirect effects which contribute to growth. Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom.
By adjusting spending and tax rates (fiscal policy) or managing the money supply and controlling the use of credit (monetary policy), it can slow down or speed up the economy'srate of growth -- in the process, affecting the level of prices and employment.
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Yes, economic growth under a democratic system is much harder to achieve than under a fascist regime. However, growth is only one of many aspects of an economy, two of the other aspects are longevity and sustainability, also when an economy does achieve the growth under a democratic system, the gain is purer and the effect is long-lasting.
A 2006 meta-analysis found that democracyhas no direct effect on economic growth. However, it has strong and significant indirect effects which contribute to growth. Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom.
By adjusting spending and tax rates (fiscal policy) or managing the money supply and controlling the use of credit (monetary policy), it can slow down or speed up the economy'srate of growth -- in the process, affecting the level of prices and employment.
HOPE IT HELPS ☺️
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