Elite Quality Report 2020

Tomas, Casas i Klett and Guido, Cozzi (2020): Elite Quality Report 2020.

Abstract

Elites are an empirical inevitability, dominating all political economies. They provide necessary coordination capacity for the economy’s resources, whether human, financial or knowledge-based. By determining institutions that enable coordination, elites shape human and economic development, the destiny of societies, the wealth of nations, and their rise and fall. To sustain their position, elites run business models that accumulate wealth. High-quality elites run Value Creation business models that give more to society than they take. Low-quality elites do the opposite and operate Value Extraction models. We present the first-ever international measurement of Elite Quality, the Elite Quality Index (EQx) for 32 countries. We use 72 Indicators describing Value Creation Extraction. The Index architecture includes Power (Sub-Index I), a measurement of future Value Extraction potential, and Value itself (Sub-Index II) and 12 Pillars (e.g. Creative Destruction, Human Capture or Producer Rent).

• Item Type: MPRA Paper
• Language: English
• Keywords: Index; elite quality; institutions; value creation; rent seeking; crony capitalism.
• Subjects: D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior; F - International Economics > F5 - International Relations, National Security, and International Political Economy; P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy; P - Economic Systems > P4 - Other Economic Systems > P48 - Political Economy ; Legal Institutions ; Property Rights ; Natural Resources ; Energy ; Environment ; Regional Studies

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