This lecture explores the connections between development and constitutional democracy. Free markets and free peoples are two sides of the same coin. That is, without the ability to vote out incompetent and corrupt governments, individuals are not only not able to enjoy the right of self-government but neither are they able to flourish as creative agents in the economy. Free and fair elections, the rule of law, and a vibrant civil society allow the optimum use of labor, capital and innovation in an economy, while dictatorship and cronyism stifle economies and direct the use of resources to the service of the powerful and the privileged.
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