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Dissimilarities in Economic Evolution

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  • Kalle Moene

    (ESOP, Department of Economics, University of Oslo, Norway)

Abstract

To explain why some countries are rich and others poor, I provide a brief overview of A Study in the Theory of Economic Evolution that Trygve Haavelmo published in 1954, before I elaborate on some features inspired by it. I incorporate grabbing activities into a dynamic development model, emphasizing how small differences in initial resources and institutions may create dissimilarities and big gaps between potentially similar countries, how poverty can arise in the midst of potential affluence, how abundance (of natural resources) and scarcity (of entrepreneurial talents) can be wasteful and harmful to economic growth—in particular when institutions are bad.

Suggested Citation

  • Kalle Moene, 2012. "Dissimilarities in Economic Evolution," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 37, pages 1-4.
  • Handle: RePEc:noj:journl:v:37:y:2012:p:4
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    File URL: http://www.nopecjournal.org/NOPEC_2012_a04.pdf
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    References listed on IDEAS

    as
    1. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    2. Mehlum, Halvor & Moene, Karl & Torvik, Ragnar, 2003. "Predator or prey?: Parasitic enterprises in economic development," European Economic Review, Elsevier, vol. 47(2), pages 275-294, April.
    3. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1989. "Industrialization and the Big Push," Journal of Political Economy, University of Chicago Press, vol. 97(5), pages 1003-1026, October.
    4. Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
    5. Karl Ove Moene & Asbjorn Rodseth, 1991. "Nobel Laureate: Trygve Haavelmo," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 175-192, Summer.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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