During the last couple of years we have seen some very significant developments around the world. First, a housing bubble in the U.S. caused a global financial crisis, then a sovereign debt crisis in Europe threatened the very viability of the EU, and now a string of people revolutions in North Africa and the Middle East is redefining the region.
All these developments have some kind of policy explanation. In the U.S., it was low interest rates and lack of financial regulations, in the Europe it was low taxation and a welfare state out of control, and for the ‘Arab Spring’ it was food prices and the increasing economic disparity of the people.
However, policy choices are the result of the governance process in place – policies reflect the strengths and weaknesses of the particular system of governance. In the U.S. deregulation of the financial sector is consistent with a system of governance designed to deliver limited government; in the EU too much government led to too much debt; and in the Arab world, the absence of accountability of unelected governments led to corruption and exploitation of the people.
Process and the form of governance does mater – the rules by which a society is regulated and governed contribute immensely to the policies adopted and their respective success or failure. I believe that now more than ever, government matters – and that the right form of governance can both protect the people’s rights and facilitate economic growth and prosperity.
Through this blog, I intend to explore and analyze constitutional developments and system of governance around the world, and propose suggestions for constitutional reforms. Some of what I have to say will be theoretical, most will probably be controversial, and all of it I hope will be respectful and harmless!
Enjoy…