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Murat Iyigun
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Then, there are evidently rich democracies whose institutions are prone to be hijacked by ideological nutjobs who have no qualms about setting those countries on a path of political and economic down-spiral. I am afraid how a rich democracy comes to this is the real question. On a somewhat related note, Larry Summers noted in a NYT article today that “No one is satisfied with the efforts to reduce foreclosures and support the housing market,” But “... the barrier to doing more has not been ideology or any solicitude for the financial sector..." Rock on, dude!!
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Jul 30, 2011