*** [[DÉMOCRATIE|Democracies]] avoid frequent and brutal policy reversals because : - it's inefficient - and it creates uncertainty so less investments[^1] Mechanism - policies tend to be moderate in democracies[^2] : - [[coalitions in parliamentary regimes|coalition]] governments force [[parti politique|parties]] to negotiate - [[median voter theorem]] in the case of single party governments *bullshit because in democracy, it is the billionnaires / the people that have power that decide*[^5] Parties have incentives to adopt programs close to the preferences of the median voters Cooperation is encouraged Small centrists parties can be included in coalition even if they don't have a majority or even a great power We wouldn't see democracy abolishing property rights[^3], however it may limits them **Such constraints do no exist in autocracies, there is more variability under** [[dictatorship]]s You see more [[croissance économique|economic growth]] miracles and growth disasters But we don't want to see that to have trust in long-term investment If you see the top 10 best performers in the last decade : only 1 democratic regime if you see the top 10 worst performers in the last decade[^4] : 0 democratic regime -> so not very trust worthy **It can be explained because of the diversity of institutions between countries** intra-country heterogeneity : diversity of leaders A [[dictatorship]] can experience a critical crisis then have a huge GDP rate ex : China under [[Deng Xiaoping]] ex : Rwanda under [[Paul Kagamé]] Dictators are really diverse : - in term of education - working background (a lot of military members) - [[race]] - not [[genre|gender]] ## Liens ``` dataview TABLE length(file.outlinks) AS "Liens sortants", length(file.inlinks) AS "Liens entrants" WHERE file.path = this.file.path ``` [^1]: [[demande effective]] : [[environnement institutionnel stable engendre la croissance économique]] [^2]: [[utiliser la compétition lors des élections pour apaiser la société]] [^3]: [[droits de propriété]] [^4]: [[enlightened dictators don't exist]] [^5]: see : [[index of electoral plutocracy]]