Is democracy compitable with economic growth
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YES..... ........... BRO
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Yes, democracy is compatible with economic growth.
Explanation:
- The task of democracy is to set the rules for the economy and they decide the rate of economic growth, and then the "well-being" of the citizens. A meta-analysis of 2006 reported no clear impact of democracy on economic growth.
- But it does have clear and important indirect effects that lead to development. Democracy is linked to a higher allocation of human capital, lower inflation, reduced political instability, and greater economic independence.
- Standard economic theory suggests that political change has a moderating influence on rising the wealth gap between rich and poor, while past studies on the effects of globalization on income inequality provide no consistent connection between rich and poor.
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