Voice and Growth: Was Churchill Right?
AbstractThe debate over whether political democracy is the least bad regime, as Churchill said, remains unresolved because history has been misread, and because statistical studies have chosen the wrong tests. This address reinterprets five key experiences to show how the institutional channels linking voice and growth are evolving with the economy. Until the early nineteenth century, the key institutional link was property-rights and contract enforcement. Since then, the human-investment channel has assumed an ever-greater role. Elite rule damages growth by underinvesting in egalitarian human capital, especially primary schooling, relative to historical norms for successful economies.This Presidential Address was delivered at the Economic History Association Annual Meeting, 12 October 2002, in St. Louis, Missouri.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal The Journal of Economic History.
Volume (Year): 63 (2003)
Issue (Month): 02 (June)
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Other versions of this item:
- Peter H. Lindert, 2003. "Voice and Growth: Was Churchill Right?," NBER Working Papers 9749, National Bureau of Economic Research, Inc.
- Peter Lindert, 2003. "Voice and Growth: Was Churchill Right?," Working Papers 26, University of California, Davis, Department of Economics.
- Lindert, Peter, 2002. "Voice and Growth: Was Churchill Right?," Working Papers 02-6, University of California at Davis, Department of Economics.
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative
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