Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost Jewish managers experienced persistent reductions in...

Democracy is not an absorbing state; transitions to autocratic rule have been frequent throughout history and often followed periods of instability under democratic rule. In this paper, we ask whether autocrats can win support among voters by showcasing their ability to restore order and to "get...