24/02/2024
There's a sense in which democracy is bad for economic prosperity. In order to win elections, there are many politicians who simply offer free things to voters, especially if there's a large number who are experiencing some level of poverty. The incumbents also try to "deliver" as many such free things as they can so that they can keep their seats in the next election.
This may be the only downside that democracy has, since this only harms the economy, and prolongs the suffering of the same poor voters.
Democracy is thus truly beneficial only in a society where the voting public are enlightened enough to know that there is no such thing as a free lunch; when they understand that these "free things" come at the cost of making the environment less conducive to productivity because they require big taxes taken from producers.
Democracy is thus a great tool for selecting among people who are best able to govern a country that is dedicated to freedom. But when the country does not yet have those values of freedom embedded in the culture, democracy simply favors the politician with the most destructive promises.
The answer to this problem is not to abolish democracy, but to increase the knowledge of people in the power of freedom: specifically freedom from government intrusion in their daily affairs, including their economic wellbeing.
Such public education is the goal of the Khama Institute.
Chanda Chisala, Founder, www.khama.org
Spreading the radical ideas of President Seretse Khama, that led to the prosperity of Botswana.