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"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others … will free- ride on the cutthroat incentives of the leaders and choose a more "cuddly" form of capitalism. Paradoxically … equilibrium, it is not a best response for the cutthroat capitalists to switch to a more cuddly form of capitalism. We also show …
Persistent link: https://www.econbiz.de/10012460215
The United States achieved a 2.0 percent average annual growth rate of real GDP per capita between 1891 and 2007. This paper predicts that growth in the 25 to 40 years after 2007 will be much slower, particularly for the great majority of the population. Future growth will be 1.3 percent per...
Persistent link: https://www.econbiz.de/10012458768
Green growth is about making growth resource-efficient, cleaner and more resilient without slowing it. This paper aims at clarifying this in an analytical framework and proposing foundations for green growth. This framework identifies channels through which green policies can potentially...
Persistent link: https://www.econbiz.de/10012460817
We study the joint dynamics of economic and political change. Predictions of the simple model that we formulate in the paper get considerable support in a panel of data on political regimes and GDP per capita for about 150 countries over 150 years. Democratic capital -- measured by a nation's...
Persistent link: https://www.econbiz.de/10012466494
Evidence from a broad panel of countries shows little overall relation between income inequality and rates of growth and investment. However, for growth, higher inequality tends to retard growth in poor countries and encourage growth in richer places. The Kuznets curve-whereby inequality first...
Persistent link: https://www.econbiz.de/10012471762
As an aid to interpreting the results of height-by-age studies this paper investigates the relationship between average height and per capita income. The relationships among income, nutrition, medical care, and height at the individual level suggest that average height is nonlinearly related to...
Persistent link: https://www.econbiz.de/10012478231
We explore the impact of rising incomes at the top of the distribution on spatial sorting patterns within large U.S. cities. We develop and quantify a spatial model of a city with heterogeneous agents and non-homothetic preferences for neighborhoods with endogenous amenity quality. As the rich...
Persistent link: https://www.econbiz.de/10012480088
We construct a matrix showing the share of the year 2000 population in every country that is descended from people in different source countries in the year 1500. Using this matrix, we analyze how post-1500 migration has influenced the level of GDP per capita and within-country income inequality...
Persistent link: https://www.econbiz.de/10012464199
The distribution of human capital and income lies at the center of a nexus of forces that shape a country's economic, institutional and technological structure. I develop here a unified model to analyze these interactions and their growth consequences. Five main issues are addressed. First, I...
Persistent link: https://www.econbiz.de/10012468322
Technological diffusion implies a form of 'conditional convergence' as lagging countries catch up with technological leaders. We find strong evidence of technological diffusion but not full convergence; differences in total factor productivity (TFP) persist even in the long run due to differences...
Persistent link: https://www.econbiz.de/10012470002