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Evolution and the growth process : natural selection of entrepreneurial traits

Author: Oded Galor; Stelios Michalopoulos; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2011.
Series: Working paper series (National Bureau of Economic Research), no. 17075.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
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  Read more...
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Additional Physical Format: Print version:
Galor, Oded, 1953-
Evolution and the growth process.
Cambridge, Mass. : National Bureau of Economic Research, 2011
(DLC) 2011657273
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Oded Galor; Stelios Michalopoulos; National Bureau of Economic Research.
OCLC Number: 728644872
Description: 1 online resource (28 pages).
Series Title: Working paper series (National Bureau of Economic Research), no. 17075.
Responsibility: Oded Galor, Stelios Michalopoulos.

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.

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