Hereditary Monarchy: At Least You Know Which Idiot Is Next
From The Answer Is Transaction Costs by Michael Munger
June 9, 2026 · 31 min
About this episode
The episode discusses the prevalence of hereditary monarchy in human political history and its relation to transaction costs.
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 Pa...
People in this episode
Host: Michael Munger
Topics covered
- hereditary monarchy
- political history
- transaction costs
- civil war
- democracy
- succession systems
Keywords
- hereditary monarchy
- political leadership
- succession
- civil war
- democracy
- transaction costs
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