William Henderson and B. McGraw talk about democracy reform. Why is democracy a good thing, when it comes to national economic and social outcomes? What are some different electoral systems and forms of government? What are some ways to reform democracy? This is Part 1 of 3 episodes.
We first go over some of the benefits associated with democracy, other than the ability to have representation in government. Then we talk about how democracies tend to have better economic growth than autocratic forms of government. We then talk about how democratic governments typically have better healthcare outcomes than autocracies. Additionally, we discuss how stability is associated with democratic countries. There are also benefits in democratic forms of government when it comes to the level of corruption in a country and the crime rate (which acts more like a J-curve). Interesting, in terms of inequality, there was less of a clear correlation.
Finally, we go over some ways to reduce corruption within politics. Would raising salaries of politicians reduce the incentive to seek bribes? Or would it not really make that much of a difference?
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3:48 economic growth
4:51 healthcare outcomes
7:25 stability
8:40 corruption
10:38 crime
13:19 inequality
24:23 politician salary
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