We construct an endogenous growth model of directed technical change with automation (the introduction of machines … are low, which induces little automation, such that income inequality and labor's share of GDP are constant. Second, as … low-skill wages increase, investment in automation is stimulated, which depresses the future growth rate of low …

to account for in existing models of industrialization. By construction, closed-economy models that stress the role of …

industrialization. Consequently, it diverted massive amounts of agricultural resources to industry and imposed excessive grain …

phase, aristocratic political systems prevail, while democracies tend to emerge with industrialization. At the same time the …

This paper builds a model of growth through industrialization, as machines replace workers in a growing number of tasks … unboundedly. The mechanism that drives growth is the feedback between industrialization and wages. High wages are incentives to … use machines and industrialize, while industrialization raises wages. The model shows that industrialization and growth …

-industrial economies. The hump-shaped relationship between industrialization (measured by employment or output shares) and incomes has … shifted downwards and moved closer to the origin. This means countries are running out of industrialization opportunities …