Loading...
Please wait, while we are loading the content...
Similar Documents
If Not Malthusian, Then Why?
| Content Provider | Semantic Scholar |
|---|---|
| Author | Wu, Lemin |
| Copyright Year | 2015 |
| Abstract | This paper shows that the Malthusian mechanism alone cannot explain the pre- industrial stagnation of living standards. Improvement in luxury technology, if faster than im- provement in subsistence technology, would have kept living standards growing. The Malthusian trap is essentially a puzzle of balanced growth between the luxury sector and the subsistence sec- tor. The author argues that balanced growth is caused by group selection in the form of biased migration. It is proven that a tiny bit of bias in migration can suppress a strong growth tendency. The theory re-explains the Malthusian trap and the prosperity of ancient market economies such as Rome and Song. It also suggests a new set of factors triggering modern economic growth. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.fas.nus.edu.sg/ecs/events/seminar/seminar-papers/15-10-015.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
