Jagdish Bhagwati is Arthur Lehman Professor of Economics and professor of political science at Columbia University. He is also a visiting scholar at the American Enterprise Institute in Washington, D.C.
Under many nondemocratic systems, good policy is bad politics, and bad policy helps leaders stay in office. The result is poorer performance in terms of economic growth.
Most highly developed societies are also stable democracies. Capitalism and democracy reinforce one another and promote a desire for universal recognition.
