The American Revolution fails in 1776, and American revolutionaries (including a number of noted economists) flee to France, which has not spent the considerable outlays on assisting the colonies that it did in OTL. What would have become the French Revolution is instead a period of time when the aristocracy (but not the monarchy) is weakened in favour of the Third Estate; France goes through a gradual process of democratization and ends up as a constitutional monarchy in which the Bourbouns reign, but hold little more actual power than does the English monarch in OTL.
