, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world …

degree of inequality in wealth, human capital, and political power in accounting for how fundamental economic institutions … evolved over time. We argue, moreover, that the roots of these disparities in the extent of inequality lay in differences in … with more extreme inequality or heterogeneity in the population were more likely to develop institutional structures that …

economic progress; that income inequality and urban bias are not so extreme as to foreclose prospects for more rapid growth and …

world, using recently developed instruments for institutions and trade. Our results indicate that the quality of …

World economies. Since all New World societies enjoyed high levels of product per capita early in their histories, the … early 19th centuries. This paper highlights the relevance of differences in the degree of inequality in wealth, human … inequality lay in differences in the initial factor endowments of the respective colonies The large concentration of Native …

, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …, the gap between the interest rate and the growth rate, does not appear to explain historical patterns of inequality … (especially, the share of income accruing to the upper tail of the distribution). We then use the histories of inequality of South …