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In Liechtenstein.

Liechtenstein has long been recognized as one of the most free and prosperous countries in the world. However, there has been little analysis of Liechtenstein’s development because the scant research that existed was in German and therefore inaccessible to most American scholars. Furthermore, many saw no need to study Liechtenstein, viewing it as an accident of history with an anachronistic political system. Liechtenstein’s monarchy, unlike the monarchies in most other European states, retains extensive powers and is involved in the day-today operations of government. In fact, in 2003, Liechtensteiners voted to give the monarchy even more power, prompting the BBC to remark that they had “voted to make their prince an absolute monarch again.”

Much else has to do with the smallness of the small nation and with its overly intelligent and educated (and homogenous) population.