The concepts of democracy and development are closely related in many respects. One is that they have a common enemy: Loss of sovereignty. In a world of nation-states, it is true by definition that decline of sovereignty entails decline of democracy and therefore a decline in the ability to conduct social and economic policy. That in turn, harms development – a conclusion tried, tested and confirmed by centuries of economic history.
The same historical record reveals that loss of sovereignty consistently leads to imposed liberalization, of course in the interests of those with the power to impose this social and economic regime. In recent years, the imposed regime is commonly known by a not-so-very favourable term called “neoliberalism.”
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Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
The same historical record reveals that loss of sovereignty consistently leads to imposed liberalization, of course in the interests of those with the power to impose this social and economic regime. In recent years, the imposed regime is commonly known by a not-so-very favourable term called “neoliberalism.”
For complete IIPM article click here
Source:- IIPM Editorial
Visit also:- IIPM Publication, Business & Economy & Arindam Chaudhuri Initiative
