For the past two decades, cutting-edge research in economics and political science has been obsessed with the issue of whether democracies are different, and the consistent finding is that they perform a number of key functions better than their autocratic counterparts. They have higher long-run rates of economic growth.13 They are better able to raise money in international capital markets and become international financial centers.14 They build stronger and more reliable alliances.15 They are more likely to make and keep international agreements.16 They are less likely to fight wars (at
...more
