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Why Doesn't Capitalism Flow to Poor Countries?
Tella, Rafael Di - 2007
corruption, which is more widespread in poor countries, reduces more the electoral appeal of capitalism than that of socialism … externality since the existence of corrupt entrepreneurs hurts good entrepreneurs by reducing the electoral appeal of capitalism …
Persistent link: https://www.econbiz.de/10012465489
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State Versus Private Ownership
Shleifer, Andrei - 1998
costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality' of free … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of … enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on …
Persistent link: https://www.econbiz.de/10012472146
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Do Institutions Cause Growth?
Glaeser, Edward L. - 2004
We revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and human capital accumulation lead to institutional improvement. We find that most indicators of institutional quality used to establish the proposition that institutions cause...
Persistent link: https://www.econbiz.de/10012468125
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Institutional and Non-Institutional Explanations of Economic Differences
Engerman, Stanley L. - 2003
Although we cannot conceive of processes of economic growth that do not involve institutional change, in this essay we outline some reasons why one should be cautious about grounding a theory of growth on institutions. We emphasize how very different institutional structures have often been...
Persistent link: https://www.econbiz.de/10012468703
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The World our Grandchildren Will Inherit : The Rights Revolution and Beyond
Acemoglu, Daron - 2012
Following on Keynes's Economic Possibilities for Our Grandchildren, this paper develops conjectures about the world we …
Persistent link: https://www.econbiz.de/10012460665
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International Trade and Institutional Change
Levchenko, Andrei A. - 2011
This paper analyzes the impact of international trade on the quality of institutions, such as contract enforcement, property rights, or investor protection. It presents a model in which imperfect institutions create rents for some parties within the economy, and are a source of comparative...
Persistent link: https://www.econbiz.de/10012460982
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Conflict, Evolution, Hegemony, and the Power of the State
Levine, David K. - 2013
In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...
Persistent link: https://www.econbiz.de/10012459442
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Capitalism and Democracy in 2040 : Forecasts and Speculations
Fogel, Robert W. - 2007
While the economies of the fifteen countries that were in the European Union (EU15) in 2000 will continue to grow from now until 2040, they will not be able to match the surges in growth that will occur in South and East Asia. In 2040, the Chinese economy will reach $123 trillion, or nearly...
Persistent link: https://www.econbiz.de/10012465470
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Capital and Wealth in the 21st Century
Weil, David N. - 2015
In Capital in the 21st Century, Thomas Piketty uses the market value of tradeable assets to measure both productive capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer wealth, which have grown enormously over the last 300...
Persistent link: https://www.econbiz.de/10012457747
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The Rise and Decline of General Laws of Capitalism
Acemoglu, Daron - 2014
, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …
Persistent link: https://www.econbiz.de/10012457900