Galor, Oded; Michalopoulos, Stelios - School of Social Science, Institute for Advanced Study - 2011
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 … and the process of economic development. In mature stages of development, however, risk-averse traits gained an …