LOW WEN LING LOW PUI WAH TAN KAR HEIM LIM PEK CHEE

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Presentation transcript:

A democratic political system is an essential condition for sustained economic progress? LOW WEN LING 219004 LOW PUI WAH 219098 TAN KAR HEIM 219173 LIM PEK CHEE 219785 CHARLES ROY BENNY ANAK SEMILAN 220196

Introduction What is democratic political system? Citizen directly involved in decision making A research stated: 4 element in democratic Free and fair election Active participation of citizen in country Human right protected Rule of laws Autocratic / Totalitarianism Form of government which one person or political party. Absolute control all over the human in the country. Is a total dictatorship.

Democracy - CAPITALIST Interrelated private sectors are allowed to own assets and this right of ownership provides a POWERFUL INCENTIVES for people to work hard and innovate products KOREA (autocratic to democratic) U.S (grew rapidly over two centuries)

WHY DEMOCRATIC POLITICAL SYSTEM ? More innovations Opening up economy Transparency of economy For long term success

Aung San Suu Kyi A Burmese opposition politician, Chairperson of the National League for Democracy (NLD)

Bernie Sanders American politician, U.S. Senator from Vermont, Candidate of 2016 U.S. presidential election.

Why Democracy? Protection Of The Rights - Human Rights. - Civil Rights -Voting Rights Freedoms Of Individuals Fair Chance Anti-unfavorable right.

Cost of living Malaysia Myanmar

“Democratisation and Growth” by Elias Papaioannou and Gregorios - "within-country" growth effects - compare economic outcomes before and after the enactment of democratic reforms - examining annual real per-capita GDP - shifting - resulted in 1 percent annual increase in GDP unclear - democratic reform solely responsible for economic growth? economic growth may be correlated with democratic reform, the direction of the causation remains a question.

Non-democratic systems that provided strong economies China, a totalitarian state, has been much more successful at promoting economic growth than India, a democracy. Nazi Germany and Fascist Italy, two countries that managed to rapidly spring their countries out of the depression while most democracies continued to suffer for another decade.

Connection between political system & economic development it’s not the nature of a country’s political system that determines the course of its economic development - the intelligence of the policies implemented

26 years of autocratic ascend poverty to prosperity korea 26 years of autocratic ascend poverty to prosperity Spawning the idea of autocratic were good for development - up to a point!

“The gem without luster called democracy was meaningless to people suffering from starvation and despair” –Park Chung Hee Democracy couldn’t function before a higher level of development achieved

Correlation does not imply causation Democracy not necessarily lead to growth South Korea(1980) – began democratic but the better institution developed due to dictators’ policy choices

Widespread of human rights on elections economic - hyperinflation Democracy in Zimbabwe Democracy is not all “Sweet Child O’ Mine” to every country to apply….. Zimbabwe – started democratic governance in 2000 and having failure since then Widespread of human rights on elections economic - hyperinflation