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Prof. Victor Menaldo in the London School of Economics site, "Capitalism need not churn inexorably toward higher inequality; democracies can tame the disproportionate power of elites"

Submitted by Arts & Sciences Web Team on August 1, 2014 - 4:03pm
Prof. Victor Menaldo
Prof. Victor Menaldo

While some democracies adopt policies that systematically tend to favour the majority of the population and thus reduce inequality, others instead create policies that favour elites and the wealthy more broadly. Mike Albertus and Victor Menaldo find that the effect of democracy on redistribution is a function of the conditions under which countries transition to democracy. In democracies where elites have had little say in writing the social contract, redistribution is more likely. Read the essay on the London School of Economics and Political Science website.