De-Dynamization
If you want to break an economy, democracy is the solution you’re looking for. The crucial reference is to this paper (via Cowan), dedicated to the The $42 Trillion Question: Will Rapid Growth in China and India Persist? The economic consequences of socio-political ‘progress’ are spelled out about as clearly as anyone could want:
… nearly every country that experienced a large democratic transition after a period of above-average growth (more than the cross-country average of 2 percent) experienced a sharp deceleration in growth in the 10 years following the democratizing transition. Among 22 countries in which episodes of large democratic transition coincided with above-average growth, all but one (Korea in 1987 with an acceleration of only 0.22 percent) experienced a growth deceleration. The combination of high initial growth and democratic transition seems to make some deceleration all but inevitable. The magnitude of the decelerations was very large: The median deceleration across the 22 countries was 2.99 percent and the average deceleration was 3.53 percent.
The phenomenon of demosclerosis is already theoretically well-grounded. It appears to be a more rapidly-acting poison than even its fiercest critics have acknowledged.
>It appears to be a more rapidly-acting poison than even its fiercest critics have acknowledged.
the immediacy of democratic dysfunction is obvious looking at places that deal with the highly immediate, like warfare. one would dare say its common sense.
an idea, or better its generative concept, has extension, whats good in one context can often be good in another. naturally the same dynamic goes for not so good ideas to unfortunate results (neutral ideas are weird).
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Posted on October 20th, 2014 at 4:45 pm | Quote[…] Source: Outside In […]
Posted on October 20th, 2014 at 6:08 pm | QuoteWe can blame England for all this you know.
We can.
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admin Reply:
October 21st, 2014 at 7:17 am
Both the dynamic and the anti-dynamic, if you’re using a wide-angled lens.
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@VXXC
The whigs and roundheads man, not Englishman. I’m sure more Britons in ’45 would’ve taken a shine to Bonnie Prince Charlie if they knew what the Hanoverian line would do to those sceptered isles.
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Posted on October 20th, 2014 at 11:59 pm | QuoteDemocracy would definitely gum things up but how to fix the nasty distortions in China’s economy?
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Posted on October 21st, 2014 at 1:13 pm | Quote[…] Democracy kills economic growth. […]
Posted on October 22nd, 2014 at 5:01 am | Quote