Posts Tagged ‘political democracy’

Most of us can agree that political democracies, based on equality and individual freedoms, are the best systems of government in the world today. We know that democratic countries are the least likely to go to war with each other; they suffer from the fewest internal conflicts, the lowest counts of terrorism, and the lowest number of human rights violations. It’s also very clear that democratic political systems are the most fertile grounds for economic prosperity; the countries that rank highest on the United Nations Democracy Index also head the Human Development Index. Freedom, equality and prosperity appear to go hand-in-hand.  Why then, do we only apply the principles of the democracy to politics, and not the economy?

The global economy is one of the most undemocratic and inequitable systems imaginable. In 2000, the UN estimates that 10% of the world’s richest adults control 85% of the world’s wealth. According to Forbes, the three richest people in the world control as much wealth as the poorest 47 countries combined. Almost 3 billion people live on $2 a day or less, while the average American lives on $119. The Royal Bank of Scotland controls more assets than the entire GDP of Brazil. Wal-Mart is richer than Thailand. (more…)

Read Full Post »