Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/107211
Authors: 
Attar, M. Aykut
Year of Publication: 
2015
Citation: 
[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 9 [Issue:] 2015-3 [Pages:] 1-54
Abstract: 
This paper constructs a two-sector unified growth model. Learning-by-doing in agriculture eventually allows the preindustrial economy to leave its Malthusian trap. But entrepreneurs in the manufacturing sector do not attempt invention if not much is known about natural phenomena. This delays the industrial revolution. Since entrepreneurs identify new useful knowledge at all times in a serendipitous way, the industrial revolution is an inevitable outcome. The paper characterizes the equilibrium path from ancient times to the infinite future. According with this characterization, the model economy successfully captures the qualitative aspects of England's unified growth experience.
Subjects: 
Unified growth theory
useful knowledge
industrial enlightenment
demographic transition
endogenous technological change
JEL: 
O31
O33
O41
J13
N33
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Article

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