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In July 2016, a military coup attempt plunged Turkey into days of protests and violence. Here, Turkish soldiers secure the area as supporters of Turkey’s President Recep Tayyip Erdogan protest in Istanbul’s Taksim Square on July 16, 2016. (Photo: Emrah Gurel/AP)

The January 20th inauguration of President Joe Biden ushered in a new era of politics in the U.S. But the event also had a profound symbolism that dates back over 200 years: The peaceful transition of power is a hallmark of American democracy.

In the U.S. and many other democratic countries around the globe, the transfer of authority from one publicly elected official to another typically results in little disturbance to business markets or the economy.

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Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

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