The purpose of this paper is to analyze the relationship between democracy and technological innovation. The primary findings are that most free countries, measured with liberal, participatory, and constitutional democracy index, have higher technological innovation than less free and more autocratic countries, so that the former have a higher interaction among social, economic and innovation systems with fruitful effects on economic growth and the wealth of nations. In fact “democracy richness” in these countries displays a higher rate of technological innovation. In addition, democratization is an antecedent process (cause) to technological innovation (effect), which is a major well-known determinant of economic growth. These findings lead to the conclusion that policy makers need to be cognizant of positive association between democratization and technological innovation to sustain modern economic growth and future technological progress in view of the accelerating globalization.