democracy

Question 1

Roving bandits

Answer 1

these are states who take short term views in regards to development.

Question 2

stationary bandits

Answer 2

a high rate of extraction shrink the economy, sometimes lesss is more. a stationary bandit take more time maximise extraction and allow for hgih levels of social output over time Olson

Question 3

efficeint institutions are

Answer 3

when winners gain more than the losers lose Khan

Question 4

Khans three arguments?

Answer 4

• The better use of information in democracies; thus, there then can be better policy and project choice
• Democracies due to procedural advantages allows for more rapid institutional change, increasing total efficiency
• Democracy can maintain a stable political system and property rights which are fundamental for economic development

Question 5

economic efficiency requires

Answer 5

state institutions and property rights

Question 6

consolidated and unconsolidated democracies

Answer 6

Acemoglu & Robinson- consolidated democracies have become effective overtime, democracies like UK and USA

Question 7

soft-hard-democracy

Answer 7

Korea

Question 8

Hard-Soft-Democracy

Answer 8

Taiwan- different as it focused on equality

Question 9

1 advantage of an authoritarian regime

Answer 9

quick imlemenetation of policy

Question 10

another advantage of authoritarian regime

Answer 10

dont have to worry about elections

Question 11

another problem with democracy

Answer 11

excesssive lobbying

Question 12

how did the West develop during the Imperial era?

Answer 12

mercantalism not democracy