. While China maintains 10% growth in GDP, albeit with a GDP per capita at the low level of a developing country, it is also …

This paper examines how economic stratification affects inequality and growth over time. It studies economies where …-wide linkages (complementary skills, knowledge spillovers). It compares growth and welfare when families are stratified into … slower growth in the short run, but to higher output or even productivity growth in the long run. This trade-off occurs in …

growth potential. In the model, at a good equilibrium a large number of children of well-educated parents take advantage of …

steady states arise because rents to human capital are self perpetuating. Inequality in abilities may be good for growth … also good for growth because it gives the young property rights over their own human capital, which are thus equivalent to …