The Co-Evolution of Economic and Political Development
This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to...
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sg-smu-ink.soe_research-19352010-09-23T05:48:03Z The Co-Evolution of Economic and Political Development Huang, Fali This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables the respective factor owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation. 2006-08-01T07:00:00Z text https://ink.library.smu.edu.sg/soe_research/936 Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Growth and Development Political Science |
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Growth and Development Political Science Huang, Fali The Co-Evolution of Economic and Political Development |
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This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different factors in production, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land to physical capital and then to human capital, which enables the respective factor owners (landlords, capitalists, and workers) to gain political powers in the same sequence, shaping the political development path from monarchy to elite ruling and finally to full suffrage. When it is too costly for any group of factor owners to repress others, political compromise is reached and economic progress is not blocked; otherwise, the political conflicts may lead to economic stagnation. |
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text |
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Huang, Fali |
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Huang, Fali |
author_sort |
Huang, Fali |
title |
The Co-Evolution of Economic and Political Development |
title_short |
The Co-Evolution of Economic and Political Development |
title_full |
The Co-Evolution of Economic and Political Development |
title_fullStr |
The Co-Evolution of Economic and Political Development |
title_full_unstemmed |
The Co-Evolution of Economic and Political Development |
title_sort |
co-evolution of economic and political development |
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Institutional Knowledge at Singapore Management University |
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2006 |
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https://ink.library.smu.edu.sg/soe_research/936 |
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