Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/216203 
Year of Publication: 
2020
Series/Report no.: 
Hohenheim Discussion Papers in Business, Economics and Social Sciences No. 06-2020
Publisher: 
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften, Stuttgart
Abstract: 
We propose a Unified Growth model that analyzes the role of the Scienti fic Revolution in the takeoff to sustained modern economic growth. Basic scientific knowledge is a necessary input in the production of applied knowledge, which, in turn, fuels productivity growth and leads to rising incomes. Eventually, rising incomes instigate a fertility transition and a takeoff of educational investments and human capital accumulation. In regions where scientific inquiry is severely constrained (for religious reasons or because of oppressive rulers), the takeoff to modern growth is delayed or might not occur at all. The novel mechanism that we propose for the latent transition towards the takeoff could contribute to our understanding of why sustained growth emerged first in Europe.
Subjects: 
Scientific Revolution
Industrial Revolution
Basic Science
Applied Science
Takeoff to Sustained Growth
Unified Growth Theory
JEL: 
O11
O31
O33
O41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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