1 Introduction and major propositions -- Part I Foundations -- 2 Production and labor -- 3 Probabilistic framework -- 4 Labor content – properties and postulates -- Part II Results -- 5 Law of decreasing labor content -- 6 Wages and class divisions -- 7 Limits to growth and accumulation --...

This paper revisits the two-equation model of Carree, van Stel, Thurik and Wennekers (2002) where deviations from the ‘equilibrium’ rate of business ownership play a central role determining both the growth of business ownership and that of economic development. Two extensions of the...

This study aims to assess to what extent the institutional environment is responsible for worldwide differences in economic development. To answer this question, a new concept of the institutions-augmented Solow model is constructed. The analysis covers 153 countries and the period 1994-2009....