Abstract :
The arrival of the East as a major force of modern global influence allows us to unpick the relationship between democracy and the industrial economy in a way that has not been realistic before. One-party rule in other authoritarian regimes has always been tied up with inflexible economic planning that could alternately propel and disrupt entire industries at the whim of a leader or committee. An alternative way to analyse technological expertise is via well-accepted economic theory, many researchers regard innovation and economic growth as going hand in hand. Endogenous growth theory holds that investment in human capital, innovation and knowledge are significant contributors to economic growth. In the economic theories, the matter of styles of governance only comes up in passing. Innovation in general is the activity of individuals who have got a vision. This vision is not substantiated by a democratic process or by participation in it.
