We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relationship between income and democracy: higher/lower incomes per capita...

Today’s developing nations emerged from the rubble of the Second World War. Only a handful of these countries have subsequently attained a level of prosperity and security comparable to that of the advanced industrial world. The implication is clear: those who study the developing world in...