Many debates today revolve around the question of whether democracy and the market economy are universal concepts, whether they can work anywhere. Some say that due to culture or religious beliefs they are not applicable to some parts of the world. But this ignores the fact that functioning democracies and markets share common principles such as transparency, accountability, fairness, and responsibility – and few would argue that these principles are not what humanity universally aspires to. Anwar Ibrahim, former Deputy Prime Minister of Malaysia and known reformer, makes that argument in his CIPE Development Institute presentation (free registration required):
- “To survive – whether you are Muslim, or Hindu, or Christian, in developing world, or developed world – you must be committed to a free market economy. You must be committed to the basic principle of freedom.”
Samuel Huntington’s famous book talking about the clash of civilizations prompted global debate on the increasing threat of conflicts between countries and cultures due to their differing traditional beliefs and ways of life. An inference that has commonly been made from this argument is that values held by people of different cultures, and especially religions, are inherently incompatible. But contrary to those views, freedom underlying both democracy and market economy is a universal value, and the ideals of freedom are sought by people of various cultures, religions, and national origins.
You can learn more about CIPE Development Institute here.
Published Date: February 25, 2009