Equality or Liberty?

"The Latin American Experience” argues that democratic stability requires policies that limit the society’s degree of substantive economic and social inequality.

Despite worry of an authoritarian resurgence, the vast majority of “third wave” democracies are enduring. Democracy, buoyed by economic growth and urbanization, is outperforming most people’s expectations or fears.

Independent central banks throughout the former Soviet Union suffer from a dual democratic deficit. How can they gain greater democratic legitimacy without compromising their countries' economic health?