Industrious Selection: Explaining Five Revolutions and Two Divergences in Eurasian Economic History within a Unified Growth Framework

Ho, Chi Pui (2016): Industrious Selection: Explaining Five Revolutions and Two Divergences in Eurasian Economic History within a Unified Growth Framework.

Abstract

We develop a unified growth theory with Industrious Selection to explain the Five Revolutions in the development process (Agricultural Revolution, Structural Transformation, Industrial Revolution, Industrious Revolution, Demographic Revolution) and the Two Divergences in Eurasia (Little Divergence, Great Divergence) in AD0-AD2000. Industrious Selection refers to industrious (hardworking and cooperative) individuals gradually dominating the population composition through labor-leisure optimization and income effect on births. It raises working hours, improves production efficiency and accelerates development. The Black Death expedited Industrious Selection in late-Medieval Europe. Together with the population scale effect, the theory reconciles the British development process and Eurasian economic divergence during AD0-AD2000.

• Item Type: MPRA Paper
• Language: English
• Keywords: Industrious Selection; Eurasian Economic History; Unified Growth Theory
• Subjects: E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E10 - General; N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations > N10 - General, International, or Comparative; O - Economic Development, Innovation, Technological Change, and Growth > O5 - Economywide Country Studies

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