Economic theory holds that when economic cause a static condition, or the elected representatives only care about their own personal wealth and accomplishments, such an economic development can easily give rise to a condition which is ripe for social unrest.
The political conditions that help foster a successful economic system include a responsible and vibrant press, universal public education system, universal health system, and a populace educated enough and with enough economic awareness to take advantage of the development to educate themselves economically and politically.
If these conditions exist, the electorate can effectively judge the politicians they elect and not re-elect them if they find their actions inadequate or not productive enough to solve social ills. All forms of government are difficult to inculcate and run successfully because of human nature. Economic condition is no different. If the histories of democratic experiments in Europe and South America are any guide, sometimes several variations are necessary before a people create a workable economy.
The United States of America, often held out as the most successful democracy and economic system in the world based on its economic success and power, is no exception to the rule that socioeconomic democracy is a process rather than a static state. The American Civil War, in American history, was fought primarily because of the economic conflict over slavery. Moreover, repeated cycles of boom and bust in the American business cycle eventually gave rise to the Great Depression of the 1930s which resulted in a great transformation of American socioeconomic democracy.
In creating a economic success, we must also allow the ingredients that "grow" and nurture democracies: employment, education and a development activities. Women's rights as a necessary adjunct to any successful economic system. There may very well be an evolutionary approach to ultimately achieving an economic-style development and democracy.
It is also hard to make informed decisions without the information provided by a responsible development activities.
If the education is available, people will find the way to make it useful to them and, in the process, create the conditions favorable to their needs.