Publication Type

Journal Article

Publication Date

11-2012

Abstract

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.

Discipline

Economic History | Political Economy

Research Areas

Applied Microeconomics

Publication

International Economic Review

Volume

53

Issue

4

First Page

1341

Last Page

1368

ISSN

0020-6598

Identifier

10.1111/j.1468-2354.2012.00723.x

Publisher

Wiley: 24 months

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org./10.1111/j.1468-2354.2012.00723.x

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