Markets and Democracy
June 2008
The connection between markets and democracy has never been a straight line. Since the 1700s economic thinkers have been debating this complex relationship. Is it possible to have free markets without democracy? Which develops first? Can the incentive of economic growth lead to greater democracy in countries that are not democratic?
The 12 international experts we’ve assembled in this issue take up different aspects of the conundrum and offer their answers to these questions. Our goal, however, is not to resolve a centuries-old intellectual debate but to deepen our readers’ understanding about the nuances of what is undeniably a matter of importance for everybody in the world today.
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Democracy and Prosperity
Established democracies have some of the world’s most dynamic, innovative and productive economies, but questions remain about whether poor or transitioning democracies will be able achieve sustained economic growth and which policies their governments need to pursue to realize that growth.