I am of the school of thought that democracy is a strong driver of a healthy economy. Economists have found that democratization causes an increase in GDP per capita of between 20% and 25% (Acemoglu et al). In other words, democracies thrive because they are better at ensuring the provision of public goods, including education, public health, and infrastructure; because they manage markets more effectively; and they channel contestation into political compromise rather than political violence. Yet the threat to democracy has been in the spotlight over the recent years as a result of a gradual but noticeable deterioration in various components of democracy in many liberal democracies including for example corruption and abuse of state power.
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