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Bureaucracy (/ b j ʊəˈr ɒ k r ə s i /; bure-OK-rə-see) is a system of organization where decisions are made by a body of non-elected officials. [1] Historically, a bureaucracy was a government administration managed by departments staffed with non-elected officials. [2]
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
Constitutional decisions establish long-standing rules that rarely change and govern the political structure itself. Political decisions take place within and are governed by the structure. [21] The book also focuses on positive-economic analysis of the development of constitutional democracy in an ethical context of consent.
Effects of democracy on economic growth and effect of economic growth on democracy can be distinguished. While evidence of a relationship is irrefutable, [ 1 ] economists' and historians' opinions of its exact nature have been sharply split, hence the latter has been the subject of many debates and studies.
Growth imperative is a term in economic theory regarding a possible necessity of economic growth. On the micro level, it describes mechanisms that force firms or consumers (households) to increase revenues or consumption to not endanger their income.
Democratic capitalism is a type of political and economic system [3] characterised by resource allocation according to both marginal productivity and social need, as determined by decisions reached through democratic politics. [1] It is marked by democratic elections, freedom, and rule of law, characteristics typically associated with democracy.
But Kudlow made the case Tuesday that dramatic actions in 2024 could help spur economic growth. He claimed federal regulations now impose a total economic cost of about $2 trillion per year ...
There is academic debate over the drivers of democracy because there are theories that support economic growth as both a cause and effect of the institution of democracy. "Lipset's observation that democracy is related to economic development, first advanced in 1959, has generated the largest body of research on any topic in comparative ...