I argue in this paper that we do not pay teachers enough to get high-quality applicants. The reasons we find ourselves in this inferior equilibrium are rooted in our history. Most American teachers are and have been women; we have not accommodated to the increasing opportunities for women in the...

A unified growth theory is developed that accounts for the roughly constant living standards displayed by world economies prior to 1800 as well as the growing living standards exhibited by modern industrial economies. Our theory also explains the industrial revolution, which is the transition...