CBSE Class 10 Answered

What is the relationship of democracy with economic growth and economic equalities?

Asked by balakrishnas361 | 05 Apr, 2022, 11:57: PM

Expert Answer

Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom.
Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare.
As democracy expands in developing countries, newly empowered workers are likely to demand better living conditions, health care, access to clean water, etc.
All these conditions contribute to increased life expectancy and, in turn, to increased productivity.

Answered by Sheetal Kolte | 06 Apr, 2022, 12:00: PM