Acemoglu, Daron; Robinson, James A.; Verdier, Thierry - 2012
“cutthroat” capitalism that generates greater inequality and more innovation and will become the technology leaders, while others … will free-ride on the cutthroat incentives of the leaders and choose a more cuddly form of capitalism. Paradoxically, those … equilibrium, it is not a best response for the cutthroat capitalists to switch to a more cuddly form of capitalism. We also show …
