Understanding Democratic Governance and Market Economy

Universal Values of Democracy and the Market Economy

Presentation by
Datuk Seri Anwar Ibrahim was Deputy Prime Minister of Malaysia from 1993-1998. He also served as Minister of Finance for Malaysia from 1991-1998. Highly respected for his principled stance against corruption …

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. Such attitudes have frequently focused on the alleged incompatibility of the Western and Muslim values concerning democracy and received a significant boost after the terrorist attacks of September 11. But contrary to those views, freedom underlying both democracy and market economy is not just a Western value. Instead, the ideal of political and economic freedom remains a universal value shared and sought by people of various cultures, religions, and national origins.


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