, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …

society consists of rich and poor individuals. The rich are initially in power, but expect to transition to democracy, which … rents for bureaucrats than would an efficient state structure. When the poor come to power in democracy, they will reform …

-biased technical change and the managerial power of CEOs. Directly supporting our theme of prior exaggeration of the rise of inequality …

of the exercise of de jure and de facto political power. A change in political institutions, for example a move from … nondemocracy to democracy, alters the distribution of de jure political power, but the elite can intensify their investments in de … facto political power, such as lobbying or the use of paramilitary forces, to partially or fully offset their loss of de …

system, and second, that presidents have more power with respect to their own coalition than prime ministers do. These … setting power to another group. We argue that the model is consistent with a great deal of qualitative information about …