Many social scientists, particularly in North America, believe that democracy hinders development. This paper discredits this obscure opinion by clarifying the conceptions of democracy, capitalism and development: Democracy, the theory of a political system of the noncommunist state, is founded on the political wisdom that people are the sovereign authority of the state, and government, which executes this sovereign power, is their deputy. Capitalism, the economic system of the non-communist state, rests on the belief that an economy prospers rapidly if individuals are allowed to own and accumulate private property, because human beings are selfish by nature. Development is the performance of capitalism. Since democracy promotes individual’s liberty, including the right to own and accumulate private property, it is supposed to be most agreeable to capitalism - the most trusted model of affluent society.
Available at: http://works.bepress.com/constantine_danopoulos/12/