Democracy Cant Provide Global Economic Growth We Need
(Richard Hutchings / Getty Images) BY Dr. Dambisa Moyo Global Economist, Author, Investor in the Future, Marathon Runner Growth is imperative for fulfilling human demands and improving lives. Economically, growth promises to reduce poverty and raise living standards; politically, growth is the sine qua non for free markets, free people, and the rule of law; individually, growth is essential to allowing people to maximize their potential. But today, economic growth across the global economy is patchy and anemic. Most of the world’s largest and most strategically vital emerging nations — including Argentina, Brazil, Colombia, India, Indonesia, Mexico, South Africa, and Turkey — are only growing at 3 percent or less a year. This is far below the roughly 7 percent minimum needed to double per capita incomes from one generation to the next and consign poverty to history. Although there is some evidence that Europe emerged from recession in early 2017, th