As the U.K.’s House of Windsor prepares for Saturday’s royal wedding of Prince Harry and American actress Meghan Markle, British taxpayers are bracing to foot an estimated bill of more than million (£30 million) for security arrangements alone. That surely is painful in the short run, but the long-term effects of monarchies are good for the economy and the standard of living, according to a new study by Wharton management professor Mauro Guillen. Guillen’s study found that over the 110 years between 1900 and 2010, monarchies had a better record than republics in protecting property rights of businesses and individuals. The study, titled, “ Symbolic Unity, Dynastic Continuity, and Countervailing Power: Monarchies, Republics, and the Economy ,” looked at data on 137 countries that included republics of different types and dictatorships. He spoke about his research on the Knowledge at Wharton show on Wharton Business Radio on SiriusXM channel 111 .…