In this paper we revisit the relationship between institutions, human capital and development. We argue that empirical models that treat institutions and human capital as exogenous are misspecified both because of the usual omitted variable bias problems and because of differential measurement...

Goldin and Katz's <i>The Race between Education and Technology</i> is a monumental achievement that supplies a unified framework for interpreting how the demand and supply of human capital have shaped the distribution of earnings in the U.S. labor market over the 20th century. This essay reviews the...

Über Jahrtausende hinweg entsprach der Lebensstandard fast aller Menschen weltweit mehr oder weniger dem Existenzminimum, bis er Ende des 18. Jahrhunderts drastisch anstieg. Viele Nationen genießen heute beispiellosen Wohlstand, andere haben den Sprung aus der wirtschaftlichen Stagnation noch...