There are other things to consider though, like the repercussions of doing away with long-standing institutions without recognizing them as a force for stability, and not having a suitable replacement.
Why Monarchies Rule When It Comes to Standard of Living
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... the long-term effects of monarchies are good for the economy and the standard of living, according to a new study by Wharton management professor Mauro Guillen. ...
Guillen’s study found that over the 110 years between 1900 and 2010, monarchies had a better record than republics in protecting property rights of businesses and individuals.
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https://knowledge.wharton.upenn.edu/...ood-economies/