Mika
VIP Contributor
I live in a republic, there is a democracy in the country, where the elected government rules for 5 years and then peacefully transfer the power to the successive government. However, about 25 years ago, there was an absolute monarchy. Ten years of bloody conflict overthrew the King.
When there was political instability, the country was mainly relying on foreign aid, and the country's debt increased day by day. Businesses were not performing well, trade and commerce were not doing good. People were afraid to invest in new ventures, industries were going bankrupt.
Now, that there is democracy in the country, there is a favorable market for business, new investments are coming in, new businesses are sprouting, and the country’s GDP has substantially improved.
Even though there is no democracy in some countries and democracy is not working properly in some countries, democracy is the ideal political system for the 21st century and beyond. Democracy is a government of the people, by the people, for the people (according to Abram Lincoln’s definition). When there is no democracy, not only people will suffer but the country’s economy will also suffer badly.
Democracy provides a favorable environment for businesses. When there is democracy people will trust their government and will be encouraged to do business.
When there was political instability, the country was mainly relying on foreign aid, and the country's debt increased day by day. Businesses were not performing well, trade and commerce were not doing good. People were afraid to invest in new ventures, industries were going bankrupt.
Now, that there is democracy in the country, there is a favorable market for business, new investments are coming in, new businesses are sprouting, and the country’s GDP has substantially improved.
Even though there is no democracy in some countries and democracy is not working properly in some countries, democracy is the ideal political system for the 21st century and beyond. Democracy is a government of the people, by the people, for the people (according to Abram Lincoln’s definition). When there is no democracy, not only people will suffer but the country’s economy will also suffer badly.
Democracy provides a favorable environment for businesses. When there is democracy people will trust their government and will be encouraged to do business.