Democracy and capitalism Research Paper Example | Topics and Well Written Essays - 1500 words

Democracy and capitalism - Research Paper Example More importantly, it was argued, this entrepreneurial class would enforce democratic structures in the localities in which they operated. In other words, â€Å"by producing economic wealth and an entrepreneurial class, capitalism inevitably produces democracy. And since democracies don't start wars or have expansionist proclivities--forget, for the moment, Theodore Roosevelt and imperialist Britain--capitalist-democratic development contributes to security and to world peace.† (Foulkes, 2006, p.22) There is evidence from recent political history to support this benign linkage of capitalism and democracy. For example, â€Å"Entrepreneurial capitalism became more dominant in the America of Ronald Reagan than it had been before, and job growth and record-breaking prosperity followed. In Britain, Margaret Thatcher reversed almost four decades of socialism and changed her country from the sick man of Europe into one positioned for long-term, non-inflationary growth. Meanwhile, the Soviet economy was shown to be like the Wizard of Oz--an imposing facade, but impotent and powerless at its core. Put these events together and you have an unassailable proof that capitalism produces a level of economic welfare that a planned economy simply cannot emulate.† (Stelzer, 1994, p.32) And, when we scan the performance of capitalist regimes in other parts of the world, the links between capitalism, prosperity and democracy becomes incontestable. After all, in recent times, capitalism in countries such as Chile, Taiwan and South Korea have resulted in both economic progress as well as democracy establishment. In the newly remodeled Russian political system too, we see the formation of glasnost (democratization) and perestroika (economic restructuring) marching hand in hand. (Friedman, 2007, p.46) Nothing exemplifies the successes of capitalism than the recent developments in India and China. By participating in financial globalization, countries with abundance of che ap labour such as India and China are primed to assume leadership position in another 10-15 years. While Mao Zedong was the father of the Communist China, his successor Deng Xiaoping must be credited for the nation’s progress toward prosperity. It was under his leadership that the party ratified and implemented the ‘Four Modernizations’ program that would propel China onto the global stage, where it is fast approaching leadership position. This ambitious program of sweeping economic reforms opened China to the outside world in more than strictly economic sense. In the case of India, it’s huge pool of skilled workers, who have the added advantage of proficiency in English language, have been the engine of economic growth. The re-election of Manmohan Singh as the Prime Minister is also a positive development from an economic perspective, for it was he who initiated India as a participant in globalization in 1991. China, on the other hand, started participati ng in the process of globalization much before India did. As a result, its economy is more than twice that of India and is catching up fast with that of the United States and Japan. Some of the South American countries such as Venezuela and Russia (rich in oil resources) and Brazil (rich in natural resources) also pose a threat to American domination of global economy. In fact, American media believes that the threat

Assignment 1 Essay Example | Topics and Well Written Essays - 500 words - 7

Assignment 1 - Essay Example Putting these skills into practice is a factor that will help the United States move ahead and maintain its high position economically. Over the past years, countries like Russia and China have had steady economic growth rates, and this has posed as a challenge to the United States. The United States ought to understand the various steps taken by the countries to have them at the position that they enjoy and the consequent result of this is implementation of plans that will see the country register a rise in general growth. Demographics is also critically analyzed in the chapter. According to the United States census, it has had a steady increase in the birthrate from the 1970s (CEA 122). The increase in birthrate has had a negative effect on the working population. One way in which this has affected them is that many people and especially mothers have had to leave their works to carry out their maternal responsibilities and this has led to the slowing down of their corporate responsibilities. This is negative from the fact that other countries that do not have such a birthrate have their citizens working tirelessly to support their families and consequently catching up with the economic stature of the United States. The demographic problem has had its effect reflected in the prime working age. With an increase in population, the prime working age for a particular location is bound to decrease. Currently, the rate is between 25 to 54 years (CEA 122). It is speculated that if the birthrate continues increasing at the rate in which it has increased over time, the prime working age gap is bound to decrease and this has the consequent effect of having less labor. With less labor, there is a decrease in the amount of money that individuals bring into a company or organization. This has the effect of having the country in a poor economic position with the citizens having low living standards and the country lagging