POLITICS
Most people would agree that competition favours consumers, as the invisible hand of the markets results in better choice and services than in markets with fewer players.
Devolution creates better leaders, but plentiful supply is needed, Mr Myerson. APICHIT JINAKUL
Politics is no different, and successful democracies need good politicians competing for the favour of voters, said Nobel laureate Roger Myerson.
This competition, Prof Myerson argues, may be best fostered through decentralisation, as local democracy helps to develop leaders who can grow to compete at the national level.
Democracy is successful when there are more good politicians than positions available, he told the Bangkok Post in an interview. Society needs good leaders who are trusted to take [taxes] and deliver better services to the public.
Prof Myerson, the winner of the 2007 Nobel prize for economics, will speak in Bangkok today at the University of the Thai Chamber of Commerce as part of the "Bridges: Dialogues Towards a Culture of Peace" lecture series, organised by the International Peace Foundation.
A professor of economics at the University of Chicago, Prof Myerson won the Nobel prize for his work on mechanism design theory, an element of game theory that has had profound implications in how policymakers organise regulatory systems, auctions and efficient trading schemes. In recent years, his work has extended to political science, and how political incentives can be affected by different electoral systems and constitutional structures.
Prof Myerson's latest work focuses on the idea of political leadership, and how successful politicians become so by gaining reputations for rewarding supporters. Democratic development in turn requires a plentiful supply of leaders with good reputations for responsible use of public funds, and decentralised democracy may be the best way to develop such leaders.
"I am hoping for a dialogue with my visit to Bangkok, to test the hypothesis that local government and devolution of power leads to competition for better leadership," he said.
"Anyone can make fancy promises. The answer has to be in competition."
Prof Myerson acknowledged the two-party system of the US and the congressional deadlock over how to cut the US budget deficit did not put models of Western democracy in the best light.
"American politics does not look very good this year," he said, noting many political scientists see greater benefits in a parliamentary system than a presidential one.
"Actually, I think both US political parties try to define a deep ideological divide that in the end isn't so important. It all comes down to who voters trust."
He added it is clear that economic growth in democracies shows less variance then in autocratic regimes.
He predicted that China, the world's second-largest economy, would eventually have to move towards democracy as it develops.
But democracy is futile unless voters put a premium on good leadership.
"There is corruption everywhere. There is no country where political leaders don't enjoy some benefits _ it's a question of magnitude," he said. "If voters tolerate leaders who cheat at the ballot box, you can't have democracy."
Prof Myerson will deliver a speech titled "Leadership, democracy and local government" at 2 pm at the UTCC today. For free reservations, contact 02 697 6380-2 or utccresearch.sup@riped.utcc.ac.th
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About the author
Writer: Chiratas NivatpuminPosition: Managing Editor
Article source: http://www.thethailandlinks.com/2012/11/13/economist-urges-competition/
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