Evolution and the growth process: Natural selection of entrepreneurial traits

• 成果类型: Article
• 署名作者: Galor, Oded; Michalopoulos, Stelios
• 署名单位: Brown University; Tufts University; Institute for Advanced Study - USA
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2011.04.005
• 发表日期: 2012
• 页码: 759-780
• 关键词: Risk aversion; GROWTH; technological progress; EVOLUTION; Natural selection

摘要

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, lit 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. (C) 2011 Elsevier Inc. All rights reserved.