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corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … externality since the existence of corrupt entrepreneurs hurts good entrepreneurs by reducing the electoral appeal of capitalism. …
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"The back story of twentieth-century art concerns the changing intellectual, economic, and technological setting that would cause the art of the past century to be fundamentally different from that of all earlier times. The single most important change involved the structure of the market for...
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"This paper analyzes the impact of international trade on the quality of institutions, such as contract enforcement, property rights, or investor protection. It presents a model in which imperfect institutions create rents for some parties within the economy, and are a source of comparative...
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