Citation

Discussion Paper Details

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Title: The Ancient Origins of the Wealth of Nations

Author(s): Quamrul H. Ashraf, Oded Galor and Marc Klemp

Publication Date: October 2020

Keyword(s): Comparative development, entrepreneurial spirit, human evolution, interpersonal diversity, loss aversion, natural selection, preference for child quality, the and Time Preference

Programme Area(s): Development Economics, Economic History and Macroeconomics and Growth

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.

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Bibliographic Reference

Ashraf, Q, Galor, O and Klemp, M. 2020. 'The Ancient Origins of the Wealth of Nations'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=15345