Democracy S Unique Advantage In Promoting Economic Growth
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Democracy S Unique Advantage In Promoting Economic Growth
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Author : Rui Tang
language : en
Publisher:
Release Date : 2018
Democracy S Unique Advantage In Promoting Economic Growth written by Rui Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Bringing together the classic defense of liberty and democracy, the political economy of hierarchy, endogenous growth theory, and the new institutional economics on growth, we propose a new institutional theory that identifies democracy's unique advantage in prompting economic growth. We contend that the channel of liberty-to-innovation is the most critical channel in which democracy holds a unique advantage over autocracy in promoting growth, especially during the stage of growth via innovation. Our theory thus predicts that democracy holds a positive but indirect effect upon growth via the channel of liberty-to-innovation, conditioned by the level of economic development. We then present quantitative evidence for our theory. To our best knowledge, we are the first to propose such an indirect and conditional effect of democracy upon economic development and provide systematic evidences. Our study promises to integrate and reconcile many seemingly unrelated and often contradictory theories and evidence regarding regime and growth, including providing a possible explanation for the inconclusive results from regressing overall regime score against the rate of economic growth or change in level of GDP per capita.
Hierarchy Liberty And Innovation
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Author : Shiping Tang
language : en
Publisher:
Release Date : 2018
Hierarchy Liberty And Innovation written by Shiping Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
Bringing together classic defense of liberty and democracy, the political economy of hierarchy, endogenous growth theory, and the new institutional economics on growth, we propose a new institutional theory that identifies democracy's unique advantage in prompting economic growth. We contend that the channel of liberty-to-innovation is the most critical channel in which democracy holds a unique advantage over autocracy in promoting growth, especially during the stage of growth via innovation. Because all human societies are hierarchical and hierarchy facilitates growth by bringing stability and order yet harms innovation and growth by demanding obedience to authority, an economy must strike a balance between maintaining stability and facilitating innovation. Democracy achieves this balance by protecting liberty whereas autocracy sacrifices innovation for stability. Democracy thus does hold a unique advantage in promoting growth over autocracy, but this advantage is indirect, channel-specific, and conditional. Evidences from three historical cases demonstrate that although key scientific breakthroughs can indeed pop up under autocracies, democracy is a necessary, though insufficient, condition for protecting major scientific breakthroughs that may challenge orthodoxies.
The Democracy Advantage Revised Edition
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Author : Morton Halperin
language : en
Publisher: Routledge
Release Date : 2009-12-16
The Democracy Advantage Revised Edition written by Morton Halperin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-16 with Business & Economics categories.
For decades, policies pursued by the US and other industrialized nations towards the developing world have been based on the belief that democracy and development don't mix. This book makes a case that they do.
The Democracy Advantage
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Author : Morton H. Halperin
language : en
Publisher: Psychology Press
Release Date : 2005
The Democracy Advantage written by Morton H. Halperin and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.
Edge Of Chaos
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Author : Dambisa Moyo
language : en
Publisher: Hachette UK
Release Date : 2018-04-24
Edge Of Chaos written by Dambisa Moyo and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-24 with Political Science categories.
Why our democracies need urgent reform, before it's too late A generation after the fall of the Berlin Wall, the world is once again on the edge of chaos. Demonstrations have broken out from Belgium to Brazil led by angry citizens demanding a greater say in their political and economic future, better education, heathcare and living standards. The bottom line of this outrage is the same; people are demanding their governments do more to improve their lives faster, something which policymakers are unable to deliver under conditions of anaemic growth. Rising income inequality and a stagnant economy are threats to both the developed and the developing world, and leaders can no longer afford to ignore this gathering storm. In Edge of Chaos, Dambisa Moyo sets out the new political and economic challenges facing the world, and the specific, radical solutions needed to resolve these issues and reignite global growth. Dambisa enumerates the four headwinds of demographics, inequality, commodity scarcity and technological innovation that are driving social and economic unrest, and argues for a fundamental retooling of democratic capitalism to address current problems and deliver better outcomes in the future. In the twenty-first century, a crisis in one country can quickly become our own, and fragile economies produce a fragile international community. Edge of Chaos is a warning for advanced and emerging nations alike: we must reverse the dramatic erosion in growth, or face the consequences of a fragmented and unstable global future.
Getting It Right
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Author : Robert J. Barro
language : en
Publisher: MIT Press
Release Date : 1996
Getting It Right written by Robert J. Barro and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
Since 1991, Robert Barro has been a lively contributor to the Wall Street Journal and other popular financial media. Getting It Right brings together, updates, and expands upon these writings that showcase Barro's agility in applying economic understanding to a wide array of social issues. Barro, a "conservative who takes no prisoners," and a self-described libertarian, believes that most governments have gone much too far in their spending, taxation, and regulation. The dominant theme in these wide-ranging essays is the importance of institutions that ensure property rights and free markets. The discussion deals especially with the appropriate range of government: which areas represent useful public policy and which are unnecessary interference. The first section of the book considers these questions in the context of the determinants of long-run economic growth. In addition to basic economics, Barro assesses related political topics, such as the role of public institutions, the optimal size of countries, and the consequences of default on foreign debt. The second section deals with the proper role and form of monetary policy. Barro argues that government should provide markets with a stable nominal framework and then stay out of the way to best allow for price stability. Writings in the third section cover fiscal and other macroeconomic policies. Topics include the distorting influences of taxation, especially taxes on capital income; infrastructure investment and other government spending; and the consequences of public debt and budget deficits. In a final section, Barro looks at more micro issues such as cartels, tax amnesties, school choice, privatization, cigarette-smoking regulation, endangered species regulation, the market for baseball players, and term limits for politicians.
Economic Dignity
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Author : Gene Sperling
language : en
Publisher: Penguin
Release Date : 2020-05-05
Economic Dignity written by Gene Sperling and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-05 with Political Science categories.
“Timely and important . . . It should be our North Star for the recovery and beyond.” —Hillary Clinton “Sperling makes a forceful case that only by speaking to matters of the spirit can liberals root their belief in economic justice in people’s deepest aspirations—in their sense of purpose and self-worth.” —The New York Times When Gene Sperling was in charge of coordinating economic policy in the Obama White House, he found himself surprised when serious people in Washington told him that the Obama focus on health care was a distraction because it was “not focused on the economy.” How, he asked, was the fear felt by millions of Americans of being one serious illness away from financial ruin not considered an economic issue? Too often, Sperling found that we measured economic success by metrics like GDP instead of whether the economy was succeeding in lifting up the sense of meaning, purpose, fulfillment, and security of people. In Economic Dignity, Sperling frames the way forward in a time of wrenching change and offers a vision of an economy whose guiding light is the promotion of dignity for all Americans.
Why Nations Fail
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Author : Daron Acemoglu
language : en
Publisher: Crown Currency
Release Date : 2012-03-20
Why Nations Fail written by Daron Acemoglu and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-20 with Business & Economics categories.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
Democracy As A Universal Value
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Author : Amartya Kumar Sen
language : en
Publisher:
Release Date : 1999
Democracy As A Universal Value written by Amartya Kumar Sen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Democracy categories.
Development As Freedom
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Author : Amartya Sen
language : en
Publisher: Anchor
Release Date : 2011-05-25
Development As Freedom written by Amartya Sen and has been published by Anchor this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-25 with Business & Economics categories.
By the winner of the 1988 Nobel Prize in Economics, an essential and paradigm-altering framework for understanding economic development--for both rich and poor--in the twenty-first century. Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers--perhaps even the majority of people--he concludes, it is still possible to practically and optimistically restain a sense of social accountability. Development as Freedom is essential reading.