We collect new data on the density of associations in 229 towns and cities in interwar Germany. Towns with one standard deviation higher association density – a common proxy for social capital – saw at least 15% faster Nazi Party entry. Not only associations with a militaristic outlook (such...

A growing theoretical and empirical literature shows that public recognition can lead employees to exert greater effort. However, status competition is also associated with excessive expenditure on status goods, greater likelihood of bankruptcy, and more risk taking by money managers. This paper...

A growing theoretical and empirical literature shows that public recognition can lead employees to exert greater effort. However, status competition is also associated with excessive expenditure on status goods, greater likelihood of bankruptcy, and more risk taking by money managers. This paper...