This paper develops a growth theory that captures the replacement of physical capital accumulation by human capital accumulation as a prime engine of growth along the process of development. It argues that the positive impact of inequality on the growth process was reversed in this process. In...

This paper suggests that inequality in the distribution of landownership adversely affected the emergence of human-capital promoting institutions ("e.g". public schooling), and thus the pace and the nature of the transition from an agricultural to an industrial economy, contributing to the...

This paper suggests that inequality in the distribution of landownership adversely affected the emergence of human-capital promoting institutions (e.g. public schooling), and thus the pace and the nature of the transition from an agricultural to an industrial economy, contributing to the...

This paper suggests that the demise of the capitalists—workers class structure was a socio-economic transformation orchestrated by the capitalists in reaction to the increasing importance of human capital in sustaining their profit rates. Physical capital accumulation in the process of...

This paper develops a growth theory that captures the replacement of physical capital accumulation by human capital accumulation as a prime engine of growth along the process of development. It argues that the positive impact of inequality on the growth process was reversed in this process. In...

The history of society is the history of struggles between social classes. Copyright 2006 The Review of Economic Studies Limited.