Introduction -- The fundamental tension -- Taming the hierarchy -- Forging the political terrain -- The developing world: two examples -- The use of power -- Conclusion

A theoretical and empirical examination of why political institutions and organizations matter in economic growth.

This book presents an introduction to the evolution and history of the British political system.

The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.

This vivid account of the leader who shaped 18th century English politics and culture focuses on his 20 years in office.