In a triumphant conclusion to a tumultuous year, reformers concluded their rout of the old order in Yugoslavia. In parliamentary elections held last weekend, an alliance of democratic parties won nearly two-thirds of the vote, crushing former President Slobodan Milosevic's Socialist Party which took only 13.5 percent of ballots cast. Democrats rule Serbia and what remains of Yugoslavia for the first time in half a century, eliminating a source of instability that has plunged the Balkans into savage conflict for a decade. It is an auspicious end to the century.

The election results give the Democratic Alliance of Serbia, an 18-party coalition, a solid majority of 177 deputies in the 250-seat Serb assembly. Celebrations were muted, however, given the enormity of the tasks faced by the new government. The Yugoslav economy, wracked by war and sanctions, is a mess. GDP has been cut in half since 1980. Corruption and crime are endemic. Managing a coalition of that size will be problematic. Demands by Kosovars and Montenegrins for more autonomy and independence will only compound the difficulties.

The Yugoslav vote caps a very good year for democracy. According to the annual study by Freedom House, more than 40 percent of the world's population now lives in "free" countries. Over the last decade the list of free countries has increased by 21. If, as Freedom House claims, there is a positive relationship between political freedom and economic prosperity, then the news is even better than it sounds.