If I was a monarchist (rather than a neocameralist) I'd bite.
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Can't agree. The problem - which nobody seems to want to name - is that monarchical security is partially a function of the personality of the king in question.
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Eventually -- if not before -- you get a garbage monarch. Giant security hole, surely? It endured only because nothing better was available.
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Where property rights are weak, it's an engineering problem. Not even a particularly difficult one.
End of conversation
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