write about 200words about the development of democracy between 1850 to 1950
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The development of democracy:
- The standard reason for this connection is the principle of globalization. Economic prosperity greatly increases a society's likelihood of developing democratic structures. From a more cultural perspective, citizens of prospering societies slowly change their political behavior and attitudes.
- While the theory of modernization has gained empirical support, particularly with regard to the effects of schooling, more recent studies have produced evidence pointing towards a democratic economic dividend.
- Democratic governments, on the other hand, need much broader political survival support. They will, therefore, consider it reasonable to over-proportionally spend their wealth in non-exclusive public goods that favor significant segments of society.
- Therefore, the multiple compensation structures for different kinds of political order have strong implications for public policy formation, which has a direct impact on overall economic development.
- This theoretical perspective, however, does not neglect the possibility of development under autocratic rule and argues for a more gradual differentiation between the economic impact of various levels of democracy and autocracy.
- All in all, the discourse regarding governance and creation will quickly surface as a whirlpool of inter-dependencies, where various scientific schools support their arguments vigorously.
- Nevertheless, these competing perspectives generated the most valuable insights into the relationship between politics and economics.
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