Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits
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 histo...
| Main Authors: | , |
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| Format: | Working Paper |
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Cambridge, MA: Department of Economics, Massachusetts Institute of Technology
2012
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| Online Access: | http://hdl.handle.net/1721.1/71557 |
| _version_ | 1811098227527647232 |
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| author | Galor, Oded Michalopoulos, Stelios |
| author_facet | Galor, Oded Michalopoulos, Stelios |
| author_sort | Galor, Oded |
| collection | MIT |
| description | 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. |
| first_indexed | 2024-09-23T17:11:55Z |
| format | Working Paper |
| id | mit-1721.1/71557 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T17:11:55Z |
| publishDate | 2012 |
| publisher | Cambridge, MA: Department of Economics, Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/715572019-04-12T15:43:04Z Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits Galor, Oded Michalopoulos, Stelios Risk Aversion Growth Technological Progress Evolution Natural Selection 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. 2012-07-08T23:54:51Z 2012-07-08T23:54:51Z 2011-05-03 Working Paper http://hdl.handle.net/1721.1/71557 Working paper, Massachusetts Institute of Technology, Dept. of Economics;11-07 An error occurred on the license name. An error occurred getting the license - uri. application/pdf Cambridge, MA: Department of Economics, Massachusetts Institute of Technology |
| spellingShingle | Risk Aversion Growth Technological Progress Evolution Natural Selection Galor, Oded Michalopoulos, Stelios Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title_full | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title_fullStr | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title_full_unstemmed | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title_short | Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits |
| title_sort | evolution and the growth process natural selection of entrepreneurial traits |
| topic | Risk Aversion Growth Technological Progress Evolution Natural Selection |
| url | http://hdl.handle.net/1721.1/71557 |
| work_keys_str_mv | AT galoroded evolutionandthegrowthprocessnaturalselectionofentrepreneurialtraits AT michalopoulosstelios evolutionandthegrowthprocessnaturalselectionofentrepreneurialtraits |