Why Are Rich Countries Democratic?

Why Are Rich Countries Democratic? Richardo Hausmann, March 26, 2014, Opinion. "When Adam Smith was 22, he famously proclaimed that, 'Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.' Today, almost 260 years later, we know that nothing could be further from the truth. The disappearance of Malaysia Airlines Flight 370 shows how wrong Smith was, for it highlights the intricate interaction between modern production and the state. To make air travel feasible..." Link