Promiscuous Elites and Economic Development
This paper analyzes the interconnection between elites and its effects on economic growth. For decades, the bureaucratic elite has been joining the business elite after leaving office, and this in growing numbers. This relationship has been termed “the revolving door” in English, “pantouflage” in French, and “amakudari” [descent from heaven] in Japanese. The purpose of this paper is to explain why this social behavior takes place, and why the political elite does not try to prevent it. Moreover, this paper shows that the bureaucratic elite obtains excessive bureaucratic power, and that promiscuous elites actually lead to lower economic growth.
|Date of creation:||Aug 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: Phone: +972-3-5318345
Web page: http://www.biu.ac.il/soc/ecEmail:
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- R. Aumann, 2010.
"Correlated Equilibrium as an expression of Bayesian Rationality,"
513, UCLA Department of Economics.
- Aumann, Robert J, 1987. "Correlated Equilibrium as an Expression of Bayesian Rationality," Econometrica, Econometric Society, vol. 55(1), pages 1-18, January.
- Robert J. Aumann, 2010. "Correlated Equilibrium as an expression of Bayesian Rationality," Levine's Working Paper Archive 661465000000000377, David K. Levine.
- Eckert, Ross D, 1981. "The Life Cycle of Regulatory Commissioners," Journal of Law and Economics, University of Chicago Press, vol. 24(1), pages 113-20, April.
- Mark Gradstein, 2007. "Inequality, democracy and the protection of property rights," Economic Journal, Royal Economic Society, vol. 117(516), pages 252-269, 01.
- David J. Salant, 1995. "Behind the Revolving Door: A New View of Public Utility Regulation," RAND Journal of Economics, The RAND Corporation, vol. 26(3), pages 362-377, Autumn.
- Easterly, William, 2001.
" The Middle Class Consensus and Economic Development,"
Journal of Economic Growth,
Springer, vol. 6(4), pages 317-35, December.
- Easterly, William, 2000. "the middle class consensus and economic development," Policy Research Working Paper Series 2346, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:biu:wpaper:2012-09. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Department of Economics)
If references are entirely missing, you can add them using this form.