. In a large electorate, the numerical advantage of the majority becomes irrelevant: democracy is undone by the market …

public schooling. We develop a theory which integrates private education and fertility decisions with voting on public … theory are consistent with state-level and micro data from the United States as well as cross-country evidence from the PISA …

political economy implications of trade theory hypothesis using data on democracy, factor endowments, and protection in the late …Does democracy encourage free trade? It depends. Broadening the franchise involves transferring power from non …

years. Democratic capital -- measured by a nation's historical experience with democracy and by the incidence of democracy … in its neighborhood -- reduces the exit rate from democracy and raises the exit rate from autocracy. In democracies, a …, promoting economic development jointly with the consolidation of democracy …

puzzle in standard economic models. To study this phenomenon, we propose a positive theory of IEAs in which the political … (might not be implemented in full). The theory also provides a new perspective for understanding investments in green …

theory, could be corrected by government intervention. However, as long as government policy is determined by voting …

also tends to erect significant entry barriers, violating the property rights of future producers. Democracy, where … taxes in democracy are high and the distortions caused by entry barriers are low, an oligarchic society achieves greater …