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Building the World Movement for DemocracyInaugural World AssemblyFebruary 14-17, 1999 New Delhi, India Democracy & Development: The Political Foundations of a Market Economy "If you sacrifice your freedom for bread, you usually lose your bread and your freedom. This is why we choose democracy." ~ Ernesto Herrera "New ideas are needed. These ideas must be based on a frank assessment of democracy's problems and ills. We must be certain that democracies are endowed with the institutions and practices which ensure their success and the sustainability of free markets." ~ Frank G. WisnerPlenary discussions began with Panel I on "Democracy & Development: The Political Foundations of a Market Economy." Manmohan Singh, Member of Parliament and former Finance Minister of India, addressed the panel; the commentators were Frank G. Wisner, Vice Chairman, External Affairs, American International Group and former U.S. Ambassador to India, Czeslaw Bielecki, Member of Parliament and Chairman of the Foreign Affairs Committee of Poland, and Ernesto Herrera, Congressman and General Secretary of the Trade Union Congress of Philippines. The discussion was moderated by Jamshyd N. Godrej, Managing Director, Godrej & Boyce of India. "Given vision and determination, we can shape the future. A great deal depends, however, on the quality of leadership. The world today requires credible and sustained leadership that is inspired, not simply functional." ~ Manmohan SinghContrary to those who favor authoritarianism over democracy for the growth and consolidation of a market economy, speakers emphasized the crucial link that exists between open markets and open societies. The recent east Asian financial crisis was mentioned as a case in point: the reason the affected societies were hit by the crisis is that they did not have sufficient democracy, and therefore suffered from an inadequate flow of free and verifiable information. Free markets operating in a free political environment, however, were not enough to ensure sustainable growth; laws, education, health provisions, and efficient infrastructures were also necessary and this is the reason that good governance should be a part of democratic economic management. "Today, Poland is a leader of the transformation of Central and Eastern Europe. But we started early on to challenge communism by building institutions working for democracy and the market." ~ Czeslaw Bielecki |
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