This paper studies, within a growth model, some effects of the inequality between the profit and growth rates on the reproduction of economic elites. To this end, it considers as functions of the capital/income ratio the relations between, on the one hand, the rate of economic growth and, on the...

In this paper, we create alternative measures of political instability, which capture movements only from dictatorship to democracy and vice versa (consistent with the recent theoretical work by Acemoglu and Robinson) but, unlike older, well known measures do not capture government changes that...

This paper studies the origin of Piketty's inequality between the profit rate (r) and the growth rate of the national income (g) by focusing on the growth rate (gamma) of the r⁄g ratio in an economy that grows gradually along a succession of production cycles. It is shown that, given a...