The text highlights a critical review of the widely accepted modernization hypothesis, which argues that an increase in per capita income leads to the development and establishment of democracy. Przeworski and Limongi, in their 1997 study, have challenged this theory and argue that economic development only has a stabilizing effect on existing regimes rather than causing their transition to democracy. The study also points out weaknesses in the use of GDP per capita as a measure of socio-economic development and accuses modernization theory of being deterministic. Despite these limitations, some studies have found a positive relationship between economic development and democracy. However, the text suggests that recent studies have shown that the connection between the two is more complex and cannot be simplified by the modernization theory.