PSC 123 Lecture Notes - Lecture 19: Islamic Inheritance Jurisprudence, Security Dilemma, Autocracy
23 Apr 2018
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Possible questions: or autocracy: which political regime contributes to economic development the best, democracy. Democracy contributes to economic development the best because within democratic regimes there are institutions in place that enforced property rights and rule of law. If a country has rule of law and property rights it allows its people to innovate without worrying that someone is going to steal their idea and profit off the idea. In an autocratic political regime, there is no concern in implementing institutions that enforce property rights and rule of law. Democracy also contributes to economic development more than autocracy because in democratic regimes there is an incentive to economically develop because the revenue the government makes goes to the people. Whereas in an autocratic, there is no incentive to maximize output and to innovate because the money does not go to the people but the government.
