‘The key criterion for good government is how well the economy is managed.’ Is this a fair assessment?

YES: Good economic management forms the basis of good governance in other aspects, making the issue a key criterion to judge the competence and effectiveness of governments everywhere.

  1. Good management in generating economic growth enables governments to develop the conditions most suitable to meeting the basic and advanced material aspirations of their people which forms the basis for political legitimacy.

  2. Conversely, a failure to do so constitutes a breach of governments’ most basic obligation to their people.

  3. Good management of key economic institutions by governments enable them to plan and direct the country’s long-term economic prosperity and respond proactively to external challenges that may otherwise undermine the country’s well-being across all aspects of governance.

  4. Good management of a country’s economic sectors through economic diversification enables the country to spread the risks and challenges of economic globalization more evenly, enabling governments to pre-empt the social and political problems inherent to economic specialization in our world today.