The New Global Wave of Authoritarianism: An Inevitable Economic Downfall?
Abstract
After decades of democracy establishing itself as both the norm and most moral form of government, many countries are gradually shifting towards autocracy. Whether it be a natural progression of societal growth or associated with economic instability and government inefficiency, this is an overarching global trend. A debate about the consequences of this phenomenon naturally arises, especially regarding possible economic impacts. The purpose of this paper is to examine whether authoritarianism and democracy are equally capable of positive economic development. Some argue that democracy is essential for capitalist growth, while others promote autocracy's power in implementing policy. However, capitalism and authoritarianism are not mutually exclusive, so any government, under the right leadership, should be able to implement beneficial economic plans. The research is conducted through a literature review, followed by a case study comparing Chinese and Indian economic transformations, as well as several regression analyses in R. The analyses conclude that regime type is not the ultimate predictor of economic growth, and that other elements should be focused on instead, such as policy and leadership.
Faculty Sponsors
Dr. Ransford Edwards
Project Type
Event
Location
Alvin Sherman Library
Start Date
4-3-2024 12:30 PM
End Date
4-4-2024 1:30 PM
The New Global Wave of Authoritarianism: An Inevitable Economic Downfall?
Alvin Sherman Library
After decades of democracy establishing itself as both the norm and most moral form of government, many countries are gradually shifting towards autocracy. Whether it be a natural progression of societal growth or associated with economic instability and government inefficiency, this is an overarching global trend. A debate about the consequences of this phenomenon naturally arises, especially regarding possible economic impacts. The purpose of this paper is to examine whether authoritarianism and democracy are equally capable of positive economic development. Some argue that democracy is essential for capitalist growth, while others promote autocracy's power in implementing policy. However, capitalism and authoritarianism are not mutually exclusive, so any government, under the right leadership, should be able to implement beneficial economic plans. The research is conducted through a literature review, followed by a case study comparing Chinese and Indian economic transformations, as well as several regression analyses in R. The analyses conclude that regime type is not the ultimate predictor of economic growth, and that other elements should be focused on instead, such as policy and leadership.
