'The spirit of capitalism' and long-run growth
In this paper, we will show that the capitalist-spirit approach to economic growth has been developed by Adam Smith, Karl Marx, Max Weber and John Maynard Keynes and many others. It can be demonstrated that countries with different degree of the capitalist spirit will have different per capita consumption, per capita capital stock and different endogenous growth rates in the long run. This capitalist spirit model is also widely supported by many empirical and historical studies on cultural attributes and economic development.
|Date of creation:||1995|
|Date of revision:|
|Publication status:||Published in European Journal of Political Economy, Volume 10, Issue 2, July 1994, Pages 279-293|
|Contact details of provider:|| Web page: http://cema.cufe.edu.cn/|
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