| dc.contributor.author | Galor, Oded | |
| dc.contributor.author | Michalopoulos, Stelios | |
| dc.date.accessioned | 2012-07-08T23:54:51Z | |
| dc.date.available | 2012-07-08T23:54:51Z | |
| dc.date.issued | 2011-05-03 | |
| dc.identifier.uri | http://hdl.handle.net/1721.1/71557 | |
| dc.description.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. | en_US |
| dc.publisher | Cambridge, MA: Department of Economics, Massachusetts Institute of Technology | en_US |
| dc.relation.ispartofseries | Working paper, Massachusetts Institute of Technology, Dept. of Economics;11-07 | |
| dc.rights | An error occurred on the license name. | en |
| dc.rights.uri | An error occurred getting the license - uri. | en |
| dc.subject | Risk Aversion | en_US |
| dc.subject | Growth | en_US |
| dc.subject | Technological Progress | en_US |
| dc.subject | Evolution | en_US |
| dc.subject | Natural Selection | en_US |
| dc.title | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits | en_US |
| dc.type | Working Paper | en_US |
