New Releases by Daron Acemoglu

Partant de ce constat de bon sens, les auteurs analysent l'histoire de l'innovation et ses retombées économiques, sociales et sociétales. De l’agriculture à la révolution industrielle en passant par l’Égypte antique, rien n’échappe au tamis de ces économistes chevronnés. Parenthèse des Trente Glorieuses mise à part, aucune période de l’histoire – que le régime soit monarchique, libéral ou communiste – n’a fait rimer nouveauté et prospérité partagée. Pire, les strategies d’innovation des 40 dernières années, notamment l’IA, creusent les inégalités et concentrent les fruits du progrès entre les mains d’entreprises plus puissantes que les États, repoussant sans cesse les plus précaires vers des voies de délestage. Un essai salué par la critique (Financial Times, Le Monde...) et une lecture analytique, historique et économique par des auteurs et économistes au rayonnement international.

Cos'è davvero il progresso? Nel corso della storia dell'umanità, il cambiamento tecnologico – che si tratti dei miglioramenti agricoli nel Medioevo, della Rivoluzione industriale o dell'odierna intelligenza artificiale – è stato visto come il principale motore della prosperità, qualcosa da cui avremmo tratto solo vantaggi. La realtà, però, si è sempre rivelata più complessa. Nel XIX secolo, l'introduzione della sgranatrice aumentò enormemente la produttività della coltivazione di cotone e trasformò gli Stati Uniti nel suo primo esportatore mondiale, ma allo stesso modo intensificò la ferocia dello schiavismo e della segregazione razziale. A partire da esempi come questo e guardando alla contemporaneità, Daron Acemoglu e Simon Johnson sfatano il mito del tecnottimismo moderno. È vero: ce la passiamo enormemente meglio dei nostri antenati, ma gli ultimi mille anni hanno visto la diffusione di invenzioni che non hanno affatto portato al benessere collettivo e i risultati sono sotto i nostri occhi. Una visione nuova e più inclusiva della tecnologia potrà emergere solo se prendiamo coscienza del nostro potere sociale, lottando per fare in modo che le innovazioni siano al servizio di tutti. Acemoglu e Johnson scrivono un manifesto per una società migliore, insistendo sulla necessità di assicurarci che la tecnologia crei nuovi posti di lavoro e nuove opportunità, anziché emarginare la maggior parte delle persone, attraverso il lavoro automatizzato e la passività politica. Solo così potremo realizzare il vero potenziale del progresso, ripensando la teoria economica in modo rivoluzionario.

Fortschritt – Eine 1000-jährige Illusion Die verbesserte Landwirtschaft im Mittelalter, später die industrielle Revolution und heute die künstliche Intelligenz – im Laufe der Geschichte wurde der technologische Wandel stets als Haupttriebkraft für das Gemeinwohl angesehen. Doch die Fortschrittsgewinne fallen nur wenigen zu, und die Technologie ist von den Zielen und Obsessionen der Mächtigen geprägt. Sie verhilft ihnen zu noch mehr Reichtum, sozialem Ansehen und Einfluss. Die zwei MIT-Professoren und Bestsellerautoren Daron Acemoglu (»Warum Nationen scheitern«) und Simon Johnson stellen das konventionelle Verständnis von technologischem Fortschritt auf den Kopf, Volkswirtschaften funktionieren anders als wir gemeinhin denken. Sie enthüllen, wer die Fortschrittsgewinner und wer die -verlierer sind, in einem Werk, das unseren Blick auf die Welt und unser Verständnis von ihr grundlegend verändert. Wie kann echter Fortschritt, wie kann gerechtere Innovation gelingen? Acemoglu und Johnson haben die Antworten. »Macht und Fortschritt« ist ausgezeichnet mit dem A.SK Social Science Award 2023. Daron Acemoglu und Simon Johnson sind Träger des Wirtschaftsnobelpreises 2024. »Eine Synthese aus Geschichte und Analyse, verbunden mit konkreten Ideen, wie die Zukunft verbessert werden kann.« Jaron Lanier »Dieses wichtige Buch ist ein notwendiges Gegenmittel gegen die giftige Rhetorik der technologischen Unvermeidbarkeit.« Shoshana Zuboff »Pflichtlektüre für alle, denen das Schicksal der Demokratie im digitalen Zeitalter am Herzen liegt.« Michael J. Sandel »Lesen Sie, genießen Sie, und entscheiden Sie dann über Ihren Lebensstil!« Jared Diamond

Awarded the 2024 Nobel Prize in Economics, Daron Acemoglu and Simon Johnson overturn conventional wisdom about how economies work--revealing the untold story of who wins and who loses the rewards of prosperity--in a work that fundamentally transforms how we look at and understand the world. Throughout history, technological change — whether it takes the form of agricultural improvements in the Middle Ages, the Industrial Revolution, or today’s artificial intelligence — has been viewed as a main driver of prosperity, working in the public interest. The reality, though, is that technology is shaped by what powerful people want and believe, generating riches, social respect, cultural prominence, and further political voice for those already powerful. For most of the rest of us, there is the illusion of progress. Daron Acemoglu and Simon Johnson debunk modern techno-optimism through a dazzling, original account of how technological choices have changed the course of history. From vivid stories of how the economic surplus of the Middle Ages was appropriated by an ecclesiastical elite to build cathedrals while the peasants starved, to the making of vast fortunes from digital technologies today as millions are pushed towards poverty, we see how the path of technology is determined and who influences its trajectory. To achieve the true potential of innovation, we need to ensure technology is creating new jobs and opportunities rather than marginalizing most people, through automated work and political passivity. We need to use the tremendous digital advances of the last half century to create useful and empowering tools, and seize back control from a small elite of hubristic, messianic tech leaders pursuing their own interests. With their breakthrough economic theory and manifesto for building a better society, Acemoglu and Johnson provide the understanding and vision to reimagine and reshape the path of technology and create true shared prosperity.

For courses in the principles of macroeconomics. An evidence-basedapproach to economics Throughout Macroeconomics,3rd Edition, authors Daron Acemoglu, David Laibson, and John List usereal economic questions and data to help students learn about the world aroundthem. Taking a fresh approach, they use the themes of optimization,equilibrium, and empiricism to not only illustrate the power of simple economicideas, but also to explain and predict what’s happening in today’s society.Each chapter begins with an empirical question that is relevant to the life ofa student and is later answered using data in the Evidence-Based Economicsfeature. As a result of the text’s practical emphasis, students learn to applyeconomic principles to guide the decisions they make in their own daily lives

A look at how new technologies can be put to use in the creation of a more just society. Artificial Intelligence (AI) is not likely to make humans redundant. Nor will it create superintelligence anytime soon. But it will make huge advances in the next two decades, revolutionize medicine, entertainment, and transport, transform jobs and markets, and vastly increase the amount of information that governments and companies have about individuals. AI for Good leads off with economist and best-selling author Daron Acemoglu, who argues that there are reasons to be concerned about these developments. AI research today pays too much attention to the technological hurtles ahead without enough attention to its disruptive effects on the fabric of society: displacing workers while failing to create new opportunities for them and threatening to undermine democratic governance itself. But the direction of AI development is not preordained. Acemoglu argues for its potential to create shared prosperity and bolster democratic freedoms. But directing it to that task will take great effort: It will require new funding and regulation, new norms and priorities for developers themselves, and regulations over new technologies and their applications. At the intersection of technology and economic justice, this book will bring together experts--economists, legal scholars, policy makers, and developers--to debate these challenges and consider what steps tech companies can do take to ensure the advancement of AI does not further diminish economic prospects of the most vulnerable groups of population.

"«Chi si allontana dal gruppo è preda del falco» recita un proverbio del popolo ashanti: il mondo è crudele e i forti hanno sempre oppresso i deboli con la violenza. In assenza di un'autorità centrale l'unica protezione è rifugiarsi in una gabbia – spesso opprimente – di norme, tradizioni e alleanze tra clan. Viceversa, uno Stato forte può proteggere gli individui, ma rischia di mutarsi in un mostro, in una dittatura oppressiva. Per gran parte della storia umana, in ogni luogo e tempo, la libertà non è stata qualcosa di scontato e naturale, ma una conquista sofferta ottenuta solo imboccando una vera e propria strettoia. Questo corridoio virtuoso esiste quando i poteri dello Stato e della società sono in equilibrio: quando le istituzioni sono forti, in grado di fornire servizi e far rispettare le leggi; e quando, al tempo stesso, i cittadini hanno la capacità di tenere sotto controllo e chiamare in causa le autorità. La strettoia analizza il modo in cui le nazioni sono riuscite a bilanciare queste due forze in equilibrio precario. Ripercorre la via attraverso cui alcune sono entrate nel corridoio della libertà e altre ne sono rimaste fuori o ne sono dolorosamente uscite. Esplora la storia della democrazia in Grecia, della nascita degli Stati Uniti e di quella delle nazioni create da Maometto e Shaka a partire da terre e popoli divisi. Traccia le origini di un'Europa dai molteplici centri di potere e di una Cina dominata da un'autorità centrale, con i loro percorsi drammaticamente diversi. Indaga le radici del fallimento di molte rivoluzioni nel Medio Oriente e delle speranze per il futuro dell'Africa. Dopo il best seller Perché le nazioni falliscono, Acemoglu e Robinson aggiungono un nuovo tassello fondamentale al loro grande mosaico che ritrae la storia delle società umane. E ci ricordano, oggi più che mai, che la libertà non è dovuta, ma è una vittoria che dipende da un fragile equilibrio di forze, in bilico tra il caos e l'oppressione."

Traditional Chinese edition of The Narrow Corridor: States, Societies, and the Fate of Liberty

From the winners of the 2024 Nobel Prize for Economics and the authors of the international bestseller Why Nations Fail "Why is it so difficult to develop and sustain liberal democracy? The best recent work on this subject comes from a remarkable pair of scholars, Daron Acemoglu and James A. Robinson. In their latest book, The Narrow Corridor, they have answered this question with great insight." —Fareed Zakaria, The Washington Post In Why Nations Fail, Daron Acemoglu and James A. Robinson argued that countries rise and fall based not on culture, geography, or chance, but on the power of their institutions. In their new book, they build a new theory about liberty and how to achieve it, drawing a wealth of evidence from both current affairs and disparate threads of world history. Liberty is hardly the "natural" order of things. In most places and at most times, the strong have dominated the weak and human freedom has been quashed by force or by customs and norms. Either states have been too weak to protect individuals from these threats, or states have been too strong for people to protect themselves from despotism. Liberty emerges only when a delicate and precarious balance is struck between state and society. There is a Western myth that political liberty is a durable construct, arrived at by a process of "enlightenment." This static view is a fantasy, the authors argue. In reality, the corridor to liberty is narrow and stays open only via a fundamental and incessant struggle between state and society: The authors look to the American Civil Rights Movement, Europe’s early and recent history, the Zapotec civilization circa 500 BCE, and Lagos’s efforts to uproot corruption and institute government accountability to illustrate what it takes to get and stay in the corridor. But they also examine Chinese imperial history, colonialism in the Pacific, India’s caste system, Saudi Arabia’s suffocating cage of norms, and the “Paper Leviathan” of many Latin American and African nations to show how countries can drift away from it, and explain the feedback loops that make liberty harder to achieve. Today we are in the midst of a time of wrenching destabilization. We need liberty more than ever, and yet the corridor to liberty is becoming narrower and more treacherous. The danger on the horizon is not "just" the loss of our political freedom, however grim that is in itself; it is also the disintegration of the prosperity and safety that critically depend on liberty. The opposite of the corridor of liberty is the road to ruin.

Le livre est organisé autour de deux perspectives complémentaires ;: une relation étroite entre faits et théorie (chaque chapitre commence par une question appliquée pouvant intéresser l'étudiant) et l'analyse menée au cours du chapitre revient régulièrement sur l'intérêt des outils économique pour résoudre les questions posées par les faits. un traitement homogène des aspects analytiques en reprenant systématiquement trois angles d'analyse complémentaires : l'optimisation des choix des agents, la notion d'équilibre, l'importance de la validation empirique de la démarche théorique. La version française propose une version condensée de l'ouvrage original centré sur le programme des deux premières années de licence. Le choix s'est fait au niveau des thèmes traités tout en préservant, pour les chapitres retenus, la démarche originale des auteurs. A la suite d'une partie introductive consacrée à la présentation des principaux outils (théoriques et empiriques) à la disposition de l'économiste, l'ouvrage aborde les thèmes importants du programme de principe économiques et de micro et macro économie des deux premières années de licence. Les différents thèmes qui composent l'ouvrage sont systémiquement introduits à l'aide d'exemple parlant aux étudiants. Les aspects microéconomiques sont traités dans le cadre de deux parties consacrées au programme de L1 au programme de L2. L'ouvrage propose un cadre homogène pour traiter les questions macroéconomiques en évitant un morcellement des analyses en écoles de pensées opposées. La partie macroéconomique propose une série de chapitres avec une introduction à la comptabilisation de la richesse des nations et à la comptabilité nationale, une présentation des mécanismes de croissance et de développement. Une seconde partie est consacrée au fonctionnement de la macroéconomie de court terme. Après une introduction au fonctionnement des marchés du travail, du crédit et au système monétaire, l'ouvrage propose deux chapitres consacrés à l'analyse des fluctuations économiques et aux politiques contre cycliques.

For courses in Principles of Microeconomics. An evidence-based approach to economics Throughout Microeconomics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help readers learn about the world around them. Taking a fresh approach, they use the themes of optimization, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what's happening in today's society. Each chapter begins with an empirical question that is relevant to the life of the reader, and is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, readers will learn to apply economic principles to guide the decisions they make in their own lives. Personalize learning with MyLab Economics MyLab(tm) Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Note: You are purchasing a standalone product; MyLab Economics does not come packaged with this content. Students, if interested in purchasing this title with MyLab Economics, ask your instructor for the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyLab Economics search for: 0134641450 / 9780134641454 Microeconomics Plus MyLab Economics with Pearson eText -- Access Card Package, 2/e Package consists of: 0134492048 / 9780134492049 Microeconomics 0134519515 / 9780134519517 MyLab Economics with Pearson eText -- Access Card -- for Microeconomics

For courses in Principles of Economics. An evidence-based approach to economics Throughout Economics, 2nd Edition, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help readers learn about the world around them. Taking a fresh approach, they use the themes of optimization, equilibrium, and empiricism to not only illustrate the power of simple economic ideas, but also to explain and predict what's happening in today's society. Each chapter begins with an empirical question that is relevant to the life of a reader, and is later answered using data in the Evidence-Based Economics feature. As a result of the text's practical emphasis, readers learn to apply economic principles to guide the decisions they make in their own lives. Also available with MyLab Economics MyLab(tm) Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Learn more. Note: You are purchasing a standalone product; MyLab Economics does not come packaged with this content. Students, if interested in purchasing this title with MyLab Economics, ask your instructor to confirm the correct package ISBN and Course ID. Instructors, contact your Pearson representative for more information. If you would like to purchase both the physical text and MyLab Economics, search for: 0134667824 / 9780134667829 Economics Plus MyLab Economics with Pearson eText -- Access Card Package, 2/e Package consists of: 0134492064 / 9780134492063 Economics 0134519442 / 9780134519449 MyLab Economics with Pearson eText -- Access Card -- for Economics

Revised edition of the authors' Macroeconomics, [2015]

Macroéconomie est une adaptation française d'une toute nouvelle collection conçue et rédigée par des pédagogues et experts en économie de très haut niveau: Daron Acemoglu (Massachusetts Institute of Technology), David Laibson (Harvard University) et John A. List (University of Chicago). Ils proposent une approche de l'apprentissage de l'économie plus conviviale et novatrice. Moins basés sur la théorie que sur la pratique, cet ouvrage aborde toutes les notions essentielles en misant sur la compréhension intuitive, au-delà des chiffres. Ce qui distingue ce titre des autres, c'est le souci des auteurs de lier concrètement les théories économiques à des questions pratiques que tout étudiant curieux peut se poser: - Est-ce vraiment gratuit de surfer sur Facebook? - Les études universitaires en valent-elles la peine? - Dans quelle mesure l'emplacement d'un appartement influe-t-il sur son coût de location? - Quelle serait l'incidence d'un péage sur le futur pont Champlain sur la durée des déplacements? Chaque chapitre est d'ailleurs construit autour d'une question clé qui interpelle l'étudiant. En suscitant ainsi son intérêt, on le motive à vouloir comprendre les données économiques et à appliquer le raisonnement de l'économiste. Bref, Macroéconomie donne à l'étudiant ce que peut lui apporter de mieux l’économie: des outils pour devenir un meilleur consommateur, un meilleur citoyen et un meilleur travailleur.

For courses in Principles of Microeconomics Acemoglu, Laibson, List: An evidence-based approach to economics Throughout Microeconomics, authors Daron Acemoglu, David Laibson, and John List use real economic questions and data to help students learn about the world around them. Taking a fresh approach, the authors use the themes of optimization, equilibrium and empiricism to illustrate the power of simple economic ideas, and their ability to explain, predict, and improve what happens in the world. Each chapter begins with an empirical question that is later answered using data in the Evidence-Based Economics feature. As a result of the text’s practical emphasis, students will learn to apply economic principles to guide the decisions they make in their own lives. MyEconLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. Please note that the product you are purchasing does not include MyEconLab. MyEconLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyEconLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyEconLab to accelerate your learning? You need both an access card and a course ID to access MyEconLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyEconLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyEconLab (ISBN:9781292079653) 4. If your lecturer is using the MyLab and you would like to purchase the product... Go to www.myeconlab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator

NEW YORK TIMES AND WALL STREET JOURNAL BESTSELLER • From two winners of the 2024 Nobel Prize in Economic Sciences, “who have demonstrated the importance of societal institutions for a country’s prosperity” “A wildly ambitious work that hopscotches through history and around the world to answer the very big question of why some countries get rich and others don’t.”—The New York Times FINALIST: Financial Times and Goldman Sachs Business Book of the Year Award • ONE OF THE BEST BOOKS OF THE YEAR: The Washington Post, Financial Times, The Economist, BusinessWeek, Bloomberg, The Christian Science Monitor, The Plain Dealer Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, or geography that determines prosperity or poverty? As Why Nations Fail shows, none of these factors is either definitive or destiny. Drawing on fifteen years of original research, Daron Acemoglu and James Robinson conclusively show that it is our man-made political and economic institutions that underlie economic success (or the lack of it). Korea, to take just one example, is a remarkably homogenous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The differences between the Koreas is due to the politics that created those two different institutional trajectories. Acemoglu and Robinson marshal extraordinary historical evidence from the Roman Empire, the Mayan city-states, the Soviet Union, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, among them: • Will China’s economy continue to grow at such a high speed and ultimately overwhelm the West? • Are America’s best days behind it? Are we creating a vicious cycle that enriches and empowers a small minority? “This book will change the way people think about the wealth and poverty of nations . . . as ambitious as Jared Diamond’s Guns, Germs, and Steel.”—BusinessWeek

Per la scienza sociale è la madre di tutte le domande: perché ci sono paesi che diventano ricchi e paesi che restano poveri? Per quale ragione nel mondo convivono prosperità e indigenza? Alcuni si soffermano sul clima e sulla geografia. Ma il caso del Botswana, che cresce a ritmi vertiginosi mentre paesi africani vicini, come Zimbabwe, Congo e Sierra Leone, subiscono miserie e violenze, smentisce questa interpretazione. Altri chiamano in causa la cultura. Ma allora come si spiegano le enormi differenze tra il Nord e il Sud della Corea? E che dire di Nogales, Arizona, che ha un reddito pro capite tre volte più alto di Nogales, Sonora, città gemella messicana? Le origini di prosperità e povertà risiedono nelle istituzioni politiche ed economiche che le nazioni si danno. Ce lo dimostrano Daron Acemoglu e James A. Robinson, accompagnandoci in un emozionante viaggio nella storia universale, di civiltà in civiltà, di rivoluzione in rivoluzione. Dall'Impero romano alla Venezia medievale, dagli inca e i maya, distrutti dal colonialismo spagnolo, al devastante impatto della tratta degli schiavi sull'Africa tribale, dalla Cina assolutista delle dinastie Ming e Qing al nuovo assolutismo di Mao Zedong, dall'Impero ottomano alle autocrazie mediorientali, le élite dominanti preferiscono difendere i propri privilegi ed estrarre risorse dalla società che avviare un percorso di benessere per tutti. La crescita economica sovverte lo status quo, e per questo è temuta e ostacolata da chi detiene il potere. Ma alcuni paesi sanno cogliere le opportunità della storia: la nascita di sistemi politici inclusivi e pluralisti diffonde la crescita economica a ogni latitudine. L'Inghilterra della rivoluzione industriale, la Francia rivoluzionaria e napoleonica, la nascita della democrazia negli Stati Uniti e, in tempi più recenti, il Brasile di Lula, dimostrano che si può prendere la strada dell'emancipazione politica e sociale. Nell'epoca in cui si assiste al tracollo di molti paesi e alla travolgente ascesa di altri, «Perché le nazioni falliscono» propone una teoria brillante, di rara profondità storica, che cambia il nostro modo di vedere il mondo. E, rifuggendo ogni conformismo, mette in discussione le certezze superficiali: siamo sicuri che la crescita della Cina sia inarrestabile?

From Nobel Prize–winning economist Daron Acemoglu, an incisive introduction to economic growth Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https://press.princeton.edu/titles/8970.html For Professors only: To access a complete solutions manual online, email us at: [email protected]

This book develops a framework for analyzing the creation and consolidation of democracy. Different social groups prefer different political institutions because of the way they allocate political power and resources. Thus democracy is preferred by the majority of citizens, but opposed by elites. Dictatorship nevertheless is not stable when citizens can threaten social disorder and revolution. In response, when the costs of repression are sufficiently high and promises of concessions are not credible, elites may be forced to create democracy. By democratizing, elites credibly transfer political power to the citizens, ensuring social stability. Democracy consolidates when elites do not have strong incentive to overthrow it. These processes depend on (1) the strength of civil society, (2) the structure of political institutions, (3) the nature of political and economic crises, (4) the level of economic inequality, (5) the structure of the economy, and (6) the form and extent of globalization.

Study comparing wage inequality trends in the U.S. and UK (and other Anglo-Saxon countries) with trends in continental Europe. Data from Australia, Belgium, Canada, Denmark, Finland, Germany, Israel, Netherlands, Norway, Sweden, UK and US are used.