Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/58930
Authors: 
Galor, Oded
Michalopoulos, Stelios
Year of Publication: 
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: 
Document Type: 
Working Paper

Files in This Item:
File
Size
322.41 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.