A Virtuous Spiral? Southeast Asian Economic Growth and its Political Implications

Abstract

At the heart of the hope that the end of the cold war has made possible a ‘New World Order’ lies an argument. The argument runs something like this: The global triumph of capitalism and democracy over (Marxist) socialism and (Leninist) autocracy has cleared the deck of history. There is now no alternative to capitalist democracy. The discrediting of socialism and autocracy has set in motion a ‘virtuous spiral’ that cannot be stopped, at least not in the long run.