This paper develops a unified theory for the dynamic implications of income inequality on the process of development. The proposed theory argues that the replacement of physical capital accumulation by human capital accumulation as a prime engine of economic growth has changed the qualitative...

This paper offers micro-foundations for the dynamic relationship between technology and population in the pre-industrial world, accounting for both technological progress and the hitherto neglected but common phenomenon of technological regress. A growing population engenders the endogenous...