Will the Economic Crisis Discredit Democracy?
January 13th, 2009 by Jason
Michael Allen links to this Washington Post piece by Marc Plattner in which he wonders if the appeal of market-based democratic rule will be undermined by the current global economic recession. Will the world’s authoritarians get a boost from the fallout of capitalism’s excesses? Plattner says no. He notes that the financial crisis has affected all nations regardless of governing ideology, and mature democracies are much better positioned to withstand steep swings in income levels and unemployment. “Today’s authoritarian regimes are likely to be more vulnerable than their democratic counterparts” since the promise of steady economic growth provides the sole basis of many authoritarians’ legitimacy.
“[W]hat the crisis reveals is that the gains of nondemocratic countries have ultimately depended on the economic engine provided by the world’s advanced democracies….Democracy has often displayed a remarkable ability to reform and renew itself. This gives it a resilience that may prove decisive in the competition with its more brittle authoritarian challengers.”
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