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• W1488005778 abstract "Historically, industrialization has been associated with falling relative returns to skills. This fact is at odds with most theories of industrialization, which tend to imply rising skill premia as natural concomitants to economic growth. This paper develops a very simple model of historical growth to help solve this puzzle. Assuming that human capital is both a consumption good and an investment good, the model demonstrates how rising education levels, non-monotonic fertility rates, and falling skill premia can all be explained within one theory." @default.
• W1488005778 created "2016-06-24" @default.
• W1488005778 creator A5050547432 @default.
• W1488005778 date "2010-01-01" @default.
• W1488005778 modified "2023-09-27" @default.
• W1488005778 title "An Exceptionally Simple Theory of Industrialization" @default.
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• W1488005778 hasPublicationYear "2010" @default.
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