arranged income redistribution. As more countries move toward democracy, the availability of such insurance mechanisms to …June 2000 - What explains the spread of both democracy and financial openness at this time in history, given the … one of mostly closed capital accounts immediately after World War II to today's enormous, largely free-flowing market …

Why are democracies so unequal? Despite the widespread expectation that democracy, via expansion of the franchise …, would lead to redistribution in favor of the masses, in reality majorities regularly lose out in democracies. Taking a broad …

benchmark, mutatis mutandis. In the end, full convergence is established, from a pure democracy ruled through the de jure power …