Aghion, Philippe; Alesina, Alberto; Trebbi, Francesco - In: The Quarterly Journal of Economics 119 (2004) 2, pp. 565-611
A fundamental aspect of institutional design is how much society chooses to delegate unchecked power to its leaders. If, once elected, a leader cannot be restrained, society runs the risk of a tyranny of the majority, if not the tyranny of a dictator. If a leader faces too many ex post checks...