Conventional wisdom warns that unaccountable political and business agents can enrich a few at the expense of many. This book rigorously develops this hypothesis and provides evidence of how "democracy can go too far" and thus decrease economic performance.

Challenges conventional wisdom about the benefits of democratic governance in organizations Provides evidence how democracy can go too far and thus decrease economic performance Applies theory to macro-governance level (monetary, fiscal, and trade policy), intermediate-level of governance (antitrust laws and competition policies) and the micro-level (corporate governance) Includes supplementary material: sn.pub/extras

Inhalt
A General Theory and Statistical Evidence.- Theory.- Natural Experiments.- Statistical Evidence.- Implications for Political Bureaucracy, Competition Law, and Business Organization.- Politics.- Law.- Business.- Conclusion.