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Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits

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  • 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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Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 786969000000000116.

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Date of creation: 22 May 2011
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Handle: RePEc:cla:levarc:786969000000000116

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  23. Borghans, José A.M. & Borghans, Lex & ter Weel, Bas, 2005. "Is There a Link between Economic Outcomes and Genetic Evolution? Cross-Country Evidence from the Major Histocompatibility Complex," IZA Discussion Papers 1838, Institute for the Study of Labor (IZA).
  24. Galor, Oded & Weil, David, 1999. "From Malthusian Stagnation to Modern Growth," CEPR Discussion Papers 2082, C.E.P.R. Discussion Papers.
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  26. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472 Elsevier.
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  1. Natural selection and economic growth
    by Jason in Evolving Economics on 2011-06-02 19:02:10
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