Why do some societies fail to adopt more efficient political and economic institutions in response to changing economic conditions? And why do such conditions sometimes generate conservative ideological backlashes and, at other times, progressive social and political movements? We propose an...

Why do some societies fail to adopt more efficient institutions in response to changing economic conditions? And why do such conditions sometimes generate ideological backlashes and at other times lead to transformative sociopolitical movements? We propose an explanation that highlights the...

This study investigates the effects of lobbying and institutions on the direction of technological change in a two-sector overlapping generations model. Simulation results suggest that in an environment with unbiased institutions producers' rent-seeking activities direct the economy towards a...