Acemoglu, Daron; Egorov, Georgij V.; Sonin, Konstantin - 2009
. Perfect democracy, where current members of the government do not have an incumbency advantage or special powers, always leads … to the emergencies of the most competent government. However, any deviation from perfect democracy destroys this result … least competent government can persist forever in office. Moreover, a greater degree of democracy may lead to worse …