Showing 1 - 6 of 6
This research suggests that the evolution of entrepreneurial spirit played a significant role in the process of … economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit … evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting …
Persistent link: https://www.econbiz.de/10009002382
An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...
Persistent link: https://www.econbiz.de/10005504330
This research develops an evolutionary growth theory that captures the interplay between the evolution of mankind and … economic growth since the emergence of the human species. This unified theory encompasses the observed evolution of population … that shaped the evolution of the human species, whereas the evolution of the human species was the origin of the take …
Persistent link: https://www.econbiz.de/10005666934
resolution. We then use the model to quantify the gains from relaxing migration restrictions as well as to describe the evolution … liberalizing migration would increase welfare more than three-fold and would significantly affect the evolution of particular …
Persistent link: https://www.econbiz.de/10011252617
comparative development. We also show that ethnic inequality goes in tandem with lower levels development within countries. Using …
Persistent link: https://www.econbiz.de/10011084675
We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions 'trumps' everything else. Once institutions are...
Persistent link: https://www.econbiz.de/10005667122