unequal society. A majoritarian democracy redistributes resources from the collectivity toward relatively few people, and has … a relatively small government and low level of taxation. A consensual democracy redistributes resources toward a broader … turns out to be preferred by society when ex ante income inequality is relatively low, while a majoritarian system is chosen …

The financing of innovation impacts on economic growth. What’s, among bank-based or market-based system, the best …-2008. A focus is dedicated to the Chinese case, which shows strong economic growth and increasingly efficient financial sector …