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Luddites and the Demographic Transition
O'Rourke, Kevin Hjortshøj - 2008
Technological change was unskilled-labor-biased during the early Industrial Revolution, but is skill-biased today. This … unskilled-labor-biased. Increasing basic knowledge causes a growth takeoff, an income-led demand for fewer educated children …
Persistent link: https://www.econbiz.de/10012464163
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The Rate of Return on Everything, 1870–2015
Jordà, Òscar - 2017
This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...
Persistent link: https://www.econbiz.de/10012453601