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The book addresses central issues in democratic theory by analyzing the sources of widespread dissatisfaction with democracies around the world. The focus is on the generic limits of democracy in promoting equality, effective participation, control of governments by citizens, and liberty.
Is economic development conducive to political democracy? Does democracy hinder material welfare? These two questions are examined by looking at 135 countries between 1950 and 1990. Descriptive information and statistical analyses are interwoven to gain an understanding of the dynamic of political regimes and their impact on economic development.
This book introduces the reader to the concepts and tools for studying relations between states and markets. The focus is methodological. Both the economy and the state are analyzed as networks of relations between principals and agents, occupying particular places in the institutional structure.
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