Long-term economic development involves four fundamental processes: the exploitation of increasing returns to specialization, the transition from household to market production, knowledge and human-capital accumulation, and industrialization. This paper integrates these processes into a coherent...

In corporate form, the constituting feature of the modern corporation, a top management monopolizing capitalist functions per se controls through financial and policy mechanisms a middle element of supervisors, engineers and other technicians and professionals who in turn control by...

We analyse convergence of per capita income across the US states for the period 1929--2011. We find that absolute convergence was in evidence early, but it broke down around 1978. It appears to have returned in 1990, although more weakly than before. We use two standard metrics to evaluate...