MacDonald explains this notion and the purposes of his text as James macdonald essays Countries with representative institutions are able to borrow more cheaply than those with autocratic governments. There are several plausible reasons.
One is that constitutional governments are on the whole constrained by law and are therefore more trustworthy counterparties for the private individuals who lend them money. Another is that elected governments identify their interests with those of society as a whole; and there are advantages for society as a whole in having smoothly running credit markets that go beyond the direct gains accruing to the state.
The implication is that once bond markets come into play, the outlook for arbitrary forms of government dims. Such arguments envisage democratic institutions and credit markets as two distinct forces. The connection between the two is simply that democracies are better able than autocracies to come to terms with the dictates of public credit.
This was how the matter was seen in the eighteenth century. When the thinkers of the Enlightenment looked for the roots of political liberty, they did not seek the answer in the history of public credit. They looked instead to ancient political freedoms, which had once been enjoyed by the peoples of Europe, but which had since been usurped by kings.
Countries where liberty reigned, such as England and Holland, had merely fought back against royal usurpations more successfully; and it was up to other nations to do the same if they wished to recover their freedom. These ideas have fallen into discredit. Although anthropologists may agree that tribal life is characterized by an absence of autocratic state power, few, if any, political theorists or historians are willing to see a direct chain of descent from such primitive freedom to modern democratic constitutions.
The growth of democracy is now seen not as a recovery of lost freedoms, but as an economic imperative for the advancement of society.
High levels of technology require an educated workforce, and a high-output economy requires wealthy consumers. These parallel forces push inexorably toward mass participation in politics; and it seems that above a certain level of income per capita it is hard to prevent democracy from taking root even in autocratic societies.
Conversely, societies that insist on retaining rigid state control are unable to advance economically beyond a certain point. This argument can address only the modern world, however. The requirements of an advanced economy cannot explain the English, American, or French Revolutions.
After all, these countries were still at "Third World" levels of development.
The alternative theory -- that democratic institutions were a response to the requirements of war finance at a time when the invention of public debt had altered the old political equations -- answers this objection.
This line of reasoning, however, leaves unanswered a number of questions.Act: The Collected Essays of James B. Macdonald); and Curriculum, Consciousness, nbsp; James Edward Hervey MacDonald – Artist, Fine Art Prices, Auction is known for easel and mural painting-landscape, illustration.
The following is an excerpt from Martin Luther’s treatise, To the councilmen of all the cities in Germany that they establish and maintain Christian schools, where he predicts what will happen to Christian doctrine when teachers think they can ignore the biblical languages.
The recent resignation of a prominent pastor from a parachurch organization raises questions about the role such organizations can and should play within evangelicalism.
James MacDonald, pastor of. After his death, Macdonald's son Bradley J. Macdonald published Theory as a Prayerful Act: The Collected Essays of James B. Macdonald, a gathering of some of Macdonald's most seminal works.
His work may also be found in William Pinar's Curriculum Theorizing: The Reconceptualists and Contemporary Curriculum Discourses.
Nov 26, · Tuesday, November 26, JAMES EDWARD HARVEY MACDONALD. The group had its genesis in the meeting between James Macdonald and Lawren Harris. Macdonald, in turn, introduced Harris to other graphic artists who, like himself, were working for the commercial art firm Grip Ltd.
in Toronto — Lismer, Carmichael, Johnston, Varley and Thomson.