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Democracy and economic development

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According to the classical theories of economics, a democracy economy is more likely to achieve economic freedom, and therefore, develops its economy better. However, if we take several examples in Asia such as China, South Korea, Singapore... These countries developed their economies the most during the periods which they were not too democracy, at least not to the western classical extent of democracy. How should we view the relationship between the politically freedom and democracy and the economic development?

Reference no: EM132063141

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