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10/10/2010

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Great blog. Some interesting theories but I am not sure whether I would call Margaret Thatcher a visionary. She did more harm to our economy and created more diversity and struggle between unions and the government than probably any other prime minister we have ever had. I left school at the height of her power and there were 6 million unemployed!...not a great vision!

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The genius chained to the official table, should die or go mad, in the same way, as the person with a mighty constitution at sedentary life and modest behavior dies of an apoplectic seizure.

Liang Zheng

Very good observation.
How to constrain leaders' power and make the economic growth more stable and efficient. Even though there is constrain on individuals' freedom, People can at least benefit from economic reform firstly. We need food and clothes firstly, then need other rights on the second order.
A stable autocracy vs a unstable democracy.
Does competition for leadership within single party dictatorship improve democracy?
How to achieve democracy with least costs.

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monarchy since there is a tradition that a particular monarch rules within. If he acts too precipitously against the tradition that he governs from, he can destabilize his own power. If he does not recognize this crucial aspect of maintaining his rule, his family is apt to and rein him in. A monarch has a further incentive to act responsibly since he views his realm as his own property and is more concerned to preserve it for the future than a transitory majority or a lone dictator. Monarchs have a track-record of financial responsibility that is far more conservative than democracies or dictatorships.

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We can see the danger posed to the economic prosperity and stability of a nation by democracy when we consider the work of Mancur Olson is his *Rise and Decline of Nations.* We have to keep in mind that collective decision making is not synonymous with liberty nor is it necessarily conducive to responsible polity.

Democracies also do not necessarily avoid the wild swings of policy as we can see in Parliamentary systems or what we are in the process of witnessing in the U.S. The constraints on democratic elements in our system such as the Senate with its extended debate and our constitutional limitations on policy implementation serve to make our government somewhat more stable than a purer democracy.

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Democracies also do not necessarily avoid the wild swings of policy as we can see in Parliamentary systems or what we are in the process of witnessing in the U.S. The constraints on democratic elements in our system such as the Senate with its extended debate and our constitutional limitations on policy implementation serve to make our government somewhat more stable than a purer democracy.

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Even though China's medium-term economic growth is forecast to outpace the average of developing countries, the country's capacity of income per capita convergence with industrialized countries entirely depends on domestic structural change in the institutional environment as well as the quality of economic growth. First of all, without a robust rule of law, comprehensive protection of physical and intellectual property rights and low transaction costs in contract enforcement, China's long-run GDP per capita prospects are far less bright than current growth figures suggest.

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I would choose autocracy if development is in vain of too much freedom. But both have disadvantages. I guess it depends on the countries situation. As what you have sited on your example about China and India.

Daniel Francis

It appears to me that democracies, while specializing in mediocrity, provide better long term policies. The erratic gains and losses we see in dictatorships and other autocratic societies aren't mirrored in democratic governments. Democracies take policy making slowly and deliberately, and there is immense inertia when it comes to going backwards or forwards in development. Because of this, it seems that once a "positive" development occurs, it is much less likely to simply be undone unless it is truly not positive. This feature of democracy provides a framework for long term development of human rights and economic policy.

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Merchant

I think that everyone has their own strengths and weaknesses, like democratic and dictatorship.

Merchant

I think everyone has his merits and shortcomings, like democratic and dictatorship

Merchant

I think everyone has his merits and shortcomings, like democratic and dictatorship

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Here the best method is economic growth it is one of the democratic system that can be particular these all are great to know about it. In all these there are so many things which is great to know about it.

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