The economy and democracy – The daily blog of behavioral and cognitive economics

Why the Economy and Democracy Still Need Each Other

Three years ago, we said that the economy and democracy need each other. They still do.The EIU. The Economist’s EIU 2023 “Democracy Index” places 165 nations and two territories in four buckets. Below, the dark and medium blue indicate “full democracies” while the lighter blue identifies the “flawed democracies.” Then, moving downward, the regimes are grouped as “hybrid” and “authoritarian”. Although the EIU “Democracy Index” includes 165 countries, just 24 with 7.8 percent of the world’s population have “full democracies.” ….[READ]