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Evolution and the Growth Process: Natural Selection of Entrepreneurial Traits

This research suggests that the evolution of entrepreneurial spirit played a signi?cant 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, di- minishing the growth potential of advanced economies and contributing to convergence in economic growth across countries.

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File URL: http://www.brown.edu/Departments/Economics/Papers/2011/2011-9_paper.pdf
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Paper provided by Brown University, Department of Economics in its series Working Papers with number 2011-9.

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Date of creation: 2011
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Handle: RePEc:bro:econwp:2011-9
Contact details of provider: Postal: Department of Economics, Brown University, Providence, RI 02912

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  11. David N. Weil & Oded Galor, 1999. "From Malthusian Stagnation to Modern Growth," American Economic Review, American Economic Association, vol. 89(2), pages 150-154, May.
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  15. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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  19. Galor, Oded & Moav, Omer, 2000. "Natural Selection and the Origin of Economic Growth," Arbetsrapport 2000:5, Institute for Futures Studies.
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