What does a successful democracy require?

He describes democracy as a system of government with four key elements: i) A system for choosing and replacing the government through free and fair elections; ii) Active participation of the people, as citizens, in politics and civic life; iii) Protection of the human rights of all citizens; and iv) A rule of law in …

What does democracy rely on?

Democracy is government in which power and civic responsibility are exercised by all adult citi- zens, directly, or through their freely elected rep- resentatives. Democracy rests upon the principles of majority rule and individual rights. Fair, frequent, and well-managed elections are essential in a democracy.

How is democracy helpful in economic prosperity and development?

Democracy is associated with higher human capital accumulation, lower inflation, lower political instability, and higher economic freedom. Democracy is closely tied with economic sources of growth, like education levels and lifespan through improvement of educative institutions as well as healthcare.

Why is economic prosperity important for country?

Economic growth is essential to allow countries to reduce and eventually eliminate extreme poverty. Growth also generates the resources countries need to address a wide range of other development challenges, such as poor health and inadequate education.

What does the success of democracy depend upon?

Democracy rests upon the principles of majority rule and individual rights. Democracies guard against all-powerful central governments and decentralize government to regional and local levels, understanding that all levels of government must be as accessible and responsive to the people as possible.

What is the key to economic prosperity?

To increase wealth and living standards, the economy must promote and sustain diversity, innovation, competition and entrepreneurship. People who telecommute to work, work remotely, earn a living online, or use co-working spaces are changing the way we do business.

What is the true meaning of prosperity?

Full Definition of prosperity : the condition of being successful or thriving especially : economic well-being.