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Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits / Oded Galor, Stelios Michalopoulos.
- Format:
- Book
- Author/Creator:
- Galor, Oded.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w17075.
- NBER working paper series no. w17075
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Evolution and the Growth Process
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2011.
- 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 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.
- Notes:
- Print version record
- May 2011.
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