This research suggests that a Darwinian 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 …

Conventional wisdom about the relationship between income distribution and economic development has been subjected to … the development process. In early stages of industrialization, as physical capital accumulation was a prime engine of … growth, inequality enhanced the process of development by channeling resources towards individuals whose marginal propensity …