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Using harmonized household survey data, we analyse long run social mobility in the US, the UK, and Germany and test recent theories of multigenerational persistence of socio-economic status. In this country comparison setting we find evidence against Gregory Clark's "universal law of social...
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economic systems with different normative priorities. The three-class society of the Platonic economy (guardians, auxiliaries … auxiliaries. The three-class society of the Aristotelian economy (rich, middle, poor) facilitates the emergence of different … representative governance. In the Aristotelian economy, the middle class is better off than in the Platonic economy (auxiliaries …
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We present a simple model, illustrating how democracy may improve the quality of the economic institutions. The model further suggests that institutional quality varies more across autocracies than across democracy and that the positive effect of democracies on economic institutional quality...
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