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This essay investigates the determinants of the growth performance of Africa. I start by illustrating a broader … institutional development. After reporting results from standard growth regressions, I analyze the role of Africa's peculiar history … influence, in and out of Africa, of the slave trades. The essay ends with critical conclusions and suggestions for further …
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We estimate growth rates of real incomes in the U.S. by quintiles using the Congressional Budget Office’s (CBO) post-tax, post-transfer data as basis for the period 1979-2011. We improve upon them by including only the present value of earnings that will accrue in retirement and excluding...
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"Between 1920 and 1950 America saw an unprecedented expansion of wealth and power underwritten by technological innovation, cultural confidence, and victory in war. American elites won World War II, rebuilt the world order with America at its head, inaugurated the jet age and put a man on the...
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