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http://hdl.handle.net/10419/58930
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| Title: | | Evolution and the growth process: Natural selection of entrepreneurial traits  |
| Authors: | | Galor, Oded Michalopoulos, Stelios |
| Issue Date: | | 2012 |
| Series/Report no.: | | Discussion Paper series, Forschungsinstitut zur Zukunft der Arbeit 6327 |
| Abstract: | | This research suggests that a Darwinian evolution of entrepreneurial spirit played a significant role in the process of economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting traits generated an evolutionary advantage and their increased representation accelerated the pace of technological progress and the process of economic development. In mature stages of development, however, risk-averse traits gained an evolutionary advantage, diminishing the growth potential of advanced economies and contributing to convergence in economic growth across countries. |
| Subjects: | | risk aversion growth technological progress evolution natural selection |
| JEL: | | O11 O14 O33 O40 J11 J13 |
| Persistent Identifier of the first edition: | | urn:nbn:de:101:1-2012042311191 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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