about and mobilizes opposition to threats against inclusive
institutions, as it did during the last quarter of the nineteenth
century and first quarter of the twentieth century, when the
increasing economic domination of the Robber Barons
was threatening the essence of inclusive economic
institutions in the United States.
Though the outcome of the ever-present conflicts
continues to be contingent, through these mechanisms the
virtuous circle creates a powerful tendency for inclusive
institutions to persist, to resist challenges, and to expand
as they did in both Britain and the United States.
Unfortunately, as we will see in the next chapter, extractive
institutions create equally strong forces toward their
persistence—the process of the vicious circle.