Democracy and market economy

In the following article, Professor Seizaburo Sato, former Research Director of the Institute for International Policy Studies, addresses the relation between democracy and market economy and the problems that might develop as economic globalization continues to deepen. Liberal democracy and market economy face a number of problems, he says, but they are at this stage the best political and economic systems to follow, and we should take steps to improve them where we can. Although recognizing the positive value of diversity, he emphasizes the importance of international cooperation and a minimum set of common rules. At the same time, he urges constant technological innovation and the fostering of capable political leaders who have a comprehensive vision for the future and a strong sense of public responsibility.