According to Schumpeter (1934), entrepreneurs are driven to innovate not for the fruits of success but for success itself. This description of entrepreneurship echoes Weber’s (1958 ) description of the “spirit of capitalism,” which states that people enjoy the accumulation of wealth...

Using the Ramsey-Cass-Koopmans model with heterogeneous agents, this note presents the explicit relationship between the individual's asset holding and the aggregate capital stock. With the aid of this relationship, is examined the dynamics of income distribution as the economy expands. Finally,...