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Liberals are often accused of blocking economic growth, what with our penchant for rules and regulations to protect the environment, mitigate climate change, rein in financial speculation and predation, provide equal rights and opportunities to minorities and other disadvantaged groups and "waste" money on frivolities such as health care and education.
New research, however, shows that this belief is simply wrong--a rise in liberal values, especially respect for individual rights, preceded and predicted economic growth in a variety of countries throughout the 20th Century.
As reported in the prestigious journal Science Advances, researchers at the University of Bristol, in the UK, and at the University of Tennessee in the US used large data sets on European and world values, along with Gross Domestic Product (GDP) per capita to trace changes in secular vs. religious values and economic development throughout the 20th Century. They were able to rule out the hypothesis that economic growth came first and stimulated secularization or liberalization. Rather, increases in liberal values, especially tolerance of differences and respect for individual rights, consistently preceded and predicted growth in per capita GDP.
The authors point out that one powerful factor behind this effect is a fuller use of human resources. When the rights and value of women and other disadvantaged groups are respected, and they are included in the workforce, economic productivity surges.
The bottom line--the common presumption that progressive ideas impede economic growth is wrong. Instead, acceptance of "others," and opening doors to everyone's inclusion and development are powerful drivers of economic growth.
REA
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New research, however, shows that this belief is simply wrong--a rise in liberal values, especially respect for individual rights, preceded and predicted economic growth in a variety of countries throughout the 20th Century.
Surprise--progressive values boost economic growth
Image credit: Creative Commons
As reported in the prestigious journal Science Advances, researchers at the University of Bristol, in the UK, and at the University of Tennessee in the US used large data sets on European and world values, along with Gross Domestic Product (GDP) per capita to trace changes in secular vs. religious values and economic development throughout the 20th Century. They were able to rule out the hypothesis that economic growth came first and stimulated secularization or liberalization. Rather, increases in liberal values, especially tolerance of differences and respect for individual rights, consistently preceded and predicted growth in per capita GDP.
The authors point out that one powerful factor behind this effect is a fuller use of human resources. When the rights and value of women and other disadvantaged groups are respected, and they are included in the workforce, economic productivity surges.
The bottom line--the common presumption that progressive ideas impede economic growth is wrong. Instead, acceptance of "others," and opening doors to everyone's inclusion and development are powerful drivers of economic growth.
REA
--------------
If you enjoyed this post, please sign up to follow or receive email alerts from zerospinzone.blogspot.com.
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