limitations. Innovation, where it occurred, typically scaled up councils rather than invented despotic chiefs. To test these …

innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should … industrial policies, public investments, and systems of social protection), not only leading to more innovation, but ensuring …

public schooling. We develop a theory which integrates private education and fertility decisions with voting on public … theory are consistent with state-level and micro data from the United States as well as cross-country evidence from the PISA …

economy-wide sales of external assets. Consistent with our theory, we find that the predicted liquidity shock has a strong …