The Intersection of Market Economies and Democracy

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This chapter explores the relationship between market economies and democracy, highlighting how autocrats use economic growth to sustain power. It also addresses the misconception that competitive elections guarantee democracy and discusses the importance of freedoms like assembly, a free press, and unbiased vote counting.

Bruce Bueno de Mesquita of NYU and Stanford University's Hoover Institution talks about the incentives facing dictators and democratic leaders. Both have to face competition from rivals. Both try to please their constituents and cronies to stay in power. He applies his insights to foreign aid, the Middle East, Venezuela, the potential for China's evolution to a more democratic system, and Cuba. Along the way, he explains why true democracy is more than just elections--it depends crucially on freedom of assembly and freedom of the press.