Send us Fan Mail

Hereditary monarchy seems like a ridiculous way to pick a leader, yet it dominates most of human political history. We argue the reason is transaction costs: succession systems survive when they settle “who rules next” cheaply enough to prevent recurring civil war. 
• Why hereditary monarchy is historically prevalent compared with democracy and universal suffrage 
• Why “divine right” stories often rationalize a choice people already find tolerable 
• Thomas Paine’s critique of hereditary succession and what it misses 
• Hobbes on the state of nature as what happens when sovereignty is contested 
• Succession as the master coordination problem of political order 
• Transaction costs applied to elections, enforcement, legitimacy, and rent seeking 
• Why elective monarchy can become an armed auction for total power 
• Bright line rules versus discretionary selection and why speed can beat “better” 
• How constitutional design lowers the cost of leadership transition when it works 
• The legitimacy problem and why dynasties converge on endogamy 
• The genetic consequences of endogamy and the Habsburg cautionary tale 
• Twedges, book recommendation, and a listener letter on board game “math trades” 

LINKS:

Thomas Paine, Common Sense, February 1776

If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com !

You can follow Mike Munger on Twitter at @mungowitz