In democracies, owning businesses is important, but education is equally crucial. Modernization theory doesn't conclusively connect economic growth to democratic institutions. Direct democracy means people participate directly in decisions.
False. Owning businesses is crucial in both old and new democracies for economic success, but education is equally important. A well-educated populace leads to informed decision-making in government and a skilled workforce, vital for economic growth.
The modernization theory does not definitively prove a causal link between economic growth and democratic institutions. Economic development can occur under various political systems.
Direct democracy involves people participating directly in decision-making, not interacting with politicians daily as implied in the question.
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