limited role in the growth process. A metamorphosis in these perspectives has taken place in the past two decades. Theory and … growth, inequality enhanced the process of development by channeling resources towards individuals whose marginal propensity … dramatic transformations in the past century. While classical economists advanced the hypothesis that inequality is beneficial …

. This paper proposes a simple theory of skill-biased change in entrepreneurial technology that fits with cross …

economic development and the dynamics of inequality within and across societies. The study argues that entrepreneurial spirit … evolved non-monotonically in the course of human history. In early stages of development, risk-tolerant, growth promoting … evolutionary advantage, diminishing the growth potential of advanced economies and contributing to convergence in economic growth …

-biased technological shock on the growth path and income distribution of a developing economy. The model builds on the theoretical …, 1969) with sector-level increasing returns to scale. We find that a scenario of catching-up to the high-growth steady state … income inequality in the long run. Small scale Kuznets curves, driven by sectoral business cycles, may also be detected in …

) by increasing the level of income or (b) by speeding up economic growth. If (a) is more effective than (b), then the …