This paper argues that currently advanced, aging economies experienced a qualitative change in the role of public education during the process of industrialization. In the early phases of the Industrial Revolution, public education was regarded as a duty that regulated child labor and thereby...

Economic growth and poverty reduction require for a country to establish efficient rules for economic and political transactions. Poor countries suffer from inadequate, inefficient transaction rules. Formal rules (e.g., laws, policies) must be nested in hospitable behavioural norms and values....

This paper argues that currently advanced, aging economies experienced a qualitative change in the role of public education during the process of industrialization. In the early phases of the Industrial Revolution, public education was regarded as a duty that regulated child labor and thereby...

We start by arguing that to understand growth differences across countries and time, one needs to understand differences in public policies that affect the incentives for productive accumulation of capital, human capital, or technically useful knowledge. And to understand policy differences one...

Theoretical models of the Kuznets Curve have been purely analytical with little contribution towards an understanding of the timing of the process and the presence of additional mechanisms affecting its timing. This paper proposes an agent-based version of Acemoglu and Robinson's model of the...

Does economic growth create democracy, as suggested by the proposition known as the Lipset hypothesis? According to this paper, for the Lipset hypothesis to be valid, it is sufficient for an ideological and a technological condition to be fulfilled. The ideological condition is that the...

This paper argues that the introduction of compulsory schooling in early industrialization promoted the growth process that eventually led to a vicious cycle of population aging and negative pressure on education policy. In the early phases of industrialization, public education was undesirable...

Analysis of the contribution of education to growth through its role in promoting a common culture indicates that when different cultural groups separately determine the social content of their school curricula excessive polarization can result, with less than optimal growth. The optimal...

This paper studies the difference between public production and public finance of public goods in a dynamic general equilibrium setup. By public finance, we mean that the public good is produced by private providers with the government financing their costs. When the model is calibrated to match...

Economies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based...