The Ancient Origins of the Wealth of Nations

44 Pages Posted: 20 Oct 2020

See all articles by Quamrul H. Ashraf

Quamrul H. Ashraf

Williams College

Oded Galor

Brown University - Department of Economics; Centre for Economic Policy Research (CEPR)

Marc Klemp

University of Copenhagen - Department of Economics

Date Written: 2020

Abstract

This essay explores the deepest roots of economic development. It underscores the significance of evolutionary processes in shaping fundamental individual and cultural traits, such as time preference, risk and loss aversion, and predisposition towards child quality, that have contributed to technological progress, human-capital formation, and economic development. Moreover, it highlights the persistent mark of the exodus of Homo sapiens from Africa tens of thousands of years ago on the degree of interpersonal population diversity across the globe and examines the impact of this variation in diversity for comparative economic, cultural, and institutional development across countries, regions, and ethnic groups.

Keywords: comparative development, human evolution, natural selection, preference for child quality, time preference, loss aversion, entrepreneurial spirit, the “out of Africa� hypothesis, interpersonal diversity

JEL Classification: O110, N100, N300, Z100

Suggested Citation

Ashraf, Quamrul H. and Galor, Oded and Klemp, Marc, The Ancient Origins of the Wealth of Nations (2020). CESifo Working Paper No. 8624, Available at SSRN: https://ssrn.com/abstract=3715276 or http://dx.doi.org/10.2139/ssrn.3715276

Quamrul H. Ashraf (Contact Author)

Williams College ( email )

Williamstown, MA 01267
United States

Oded Galor

Brown University - Department of Economics ( email )

Providence, RI 02912
United States

HOME PAGE: http://www.econ.brown.edu/fac/Oded_Galor/

Centre for Economic Policy Research (CEPR)

London
United Kingdom

HOME PAGE: http://www.econ.brown.edu/fac/Oded_Galor/

Marc Klemp

University of Copenhagen - Department of Economics ( email )

Øster Farimagsgade 5
Bygning 26
1353 Copenhagen K.
Denmark

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
77
Abstract Views
375
Rank
563,377
PlumX Metrics