2. • Democracy is a form of government in which all eligible citizens
participate equally—either directly or indirectly through elected
representatives—in the proposal, development, and creation of laws. It
encompasses social, religious, cultural, ethnic and racial equality, justice,
and liberty.
• Democracy contrasts with forms of government where power is either
held by one person, as in a monarchy, or where power is held by a small
number of individuals, as in an oligarchy (The economist, 2014).
• Karl Popper defined democracy in contrast to dictatorship or tyranny, thus
focusing on opportunities for the people to control their leaders and to
oust them without the need for a revolution.
(Kickstarter, 2014)
3. • Democracy fizzled outstandingly fast after autonomy and has since
turned into a veneer for military and bureaucratic rule. Since its
freedom, Pakistan's just framework has changed at different times all
around its political history, for the most part because of feudalism, elitist
organization, political debasement, and the intermittent rebellions by
the military foundation against frail citizen governments, bringing about
the requirement of military law the nation over (happening in 1958,
1977 and 1999, and headed by boss military law director commanders
Ayub Khan, Zia-ul-Haq and Pervez Musharraf respectively).
• Some of the Islamisation strategies presented throughout Zia-ul-Haq's
military period likewise questionably undermined nearby fair and
secularist developments.
4. Is Democracy compatible
with Economic
Efficiency?
• Democracies are on normal wealthier than non-vote based systems, are less
inclined to go to war and have a finer record of battling corruption.
• All the more in a broad sense, popular government lets individuals talk their
psyches and shape their own particular and their kids' fates. That such a
variety of individuals in such a variety of diverse parts of the world are ready
to hazard such a great amount of for this thought is affirmation to its
continuing bid (The economist, 2014).
• Democracy is experiencing a troublesome time. Where Autocrats have been
determined out of office, their rivals have generally neglected to make
reasonable Democratic Regimes. Indeed in settled Democracies,
imperfections in the framework have gotten to be worryingly noticeable and
baffle with governmental issues which are overflowing. Yet simply a couple of
years prior popular government looked as if it would command the world.
• Professor de Grauwe was likewise really dismissive of Eurozone policy, saying
that concentration on starkness had unnecessarily developed and stretched
the retreat. He was likewise worried about the way that financial power was
being given to unelected bodies—whether focal brokers in the ECB, or the
bureaucrats in Brussels or the IMF who will in future opine on monetary
approaches in vexed EU states. Those with force ought to be democratically
responsible, he felt.
(Popova, 2014)
5. Is Democracy compatible with
Economic Efficiency?
• In my perspective, this is the heart of the issue. So a hefty portion of the
"results" for the Eurozone Crisis either include the weakening of Democracy or
the inconvenience of arrangements that voters don't like. Indeed Professor
Simms' thoughts for a Democratic Union hits the quick complaint and voters
appear to need the definite inverse, judged by the surveying accomplishment of
Eurosceptic parties; the people need the power to come back to neighborhood
levels as opposed to being sent up to Brussels. They admired managing an
account union, under which stores that are insured by Eurozone taxpayers is an
alternate issue; Do German voters truly need to remain behind Italian banks? The
ascent of populist gatherings in Europe is clearly determined by a feeling that the
world class has had loads of shrewd, technocratic plans that have ended up being
lamentable.
• We can have democratic control but this will have us poorer than we might be;
it's not just that countries may build up excessive debts but that they may decide
to stint on long-term projects (infrastructure or education) in favor of short-term
spending.
• Will have to choose one. Either democracy or economic efficiency.
6. References
• Happierabroad.com, (2014). Debunking the Myth of Freedom and Democracy in America withFacts
and Overseas Experiences. [online] Available at:
http://www.happierabroad.com/ebook/Page31a.htm [Accessed 23 May. 2014].
• Kickstarter, (2014). Democracy: Majority Rules - A Game of Politics & Negotiation. [online] Available
at: https://www.kickstarter.com/projects/reinhagen/vote-democracy-a-game-of-politics-and-
negotiation [Accessed 23 May. 2014].
• Magickriver.org, (2014). MAGICK RIVER: DEMOCRACY: Elect your own dictator! (repost). [online]
Available at: http://www.magickriver.org/2010/05/democracy-elect-your-own-dictator.html
[Accessed 23 May. 2014].
• Popova, M. (2014). Market Maketh Man: Distortions of Democracy. [online] Brain Pickings.
Available at: http://www.brainpickings.org/index.php/2010/05/12/market-maketh-man-temujin-
doran/ [Accessed 23 May. 2014].
• The Economist, (2014). DEMOCRACY. [online] Available at:
http://www.economist.com/news/essays/21596796-democracy-was-most-successful-political-
idea-20th-century-why-has-it-run-trouble-and-what-can-be-do [Accessed 23 May. 2014].
• The Economist, (2014). DEMOCRACY. [online] Available at:
http://www.economist.com/news/essays/21596796-democracy-was-most-successful-political-
idea-20th-century-why-has-it-run-trouble-and-what-can-be-do [Accessed 23 May. 2014].
