Monitoring by peers is often an effective means of attenuating incentive problems. Most explanations of the efficacy of mutual monitoring rely either on small group size or on a version of the Folk theorem with repeated interactions which requires reasonably accurate public information...

This paper seeks to explain trends in United States corporate profitability since World War II through an analysis of the rise and subsequent demise of a postwar social structure of accumulation (SSA). Building from a formal model of the determinants of profitability, we provide econometric...

David Gordon was a pioneer in the burgeoning field of institutional growth economics, introducing the concept of a ‘social structure of accumulation’, and richly illustrating its usefulness with both econometric and historical studies. Gordon also helped to develop the theory of segmented...