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One theme that has emerged from the literature on political economy concerns the transition to democracy: why would dominant elites give up oligarchic power? This book addresses the fundamental question of democratic stability and the collapse of tyranny by considering a formal model of democracy and tyranny.
Leadership or Chaos provides a self-contained text in political economy dealing with social choice. Theory and empirical analysis are used to examine democratic institutions in the developed world, and the success or failure of democratization in under-developed countries.
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