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Growth, Distribution and Demography: Some Lessons from History

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  • Jeffrey G. Williamson

Abstract

If we have learned anything from the recent outpouring of empirical growth equations is that life is far too complex to expect unconditional' convergence among all countries and at" all times. This fact motivates two questions. First, why has it taken economists so long to learn" the same lesson from the Kuznets Curve debate? No economist should expect an unconditional'" Kuznets Curve to emerge from the growth experience of all countries and at all times. The" industrial revolutionary forces thought to have an impact on inequality can be offset or reinforced" by demography, skill supply and globalization. This paper assesses the role of globalization and" demography via mass migrations. Second, why has it taken economists so long to learn that" demography influences growth? When treated properly, demography can be shown to have a" significant impact on GDP per capita growth. The answers to these two questions are sought by" looking at inequality and growth experience in the Old World, the New World last century and a half.

Suggested Citation

  • Jeffrey G. Williamson, 1997. "Growth, Distribution and Demography: Some Lessons from History," NBER Working Papers 6244, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:6244
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    1. Williamson Jeffrey G., 1995. "The Evolution of Global Labor Markets since 1830: Background Evidence and Hypotheses," Explorations in Economic History, Elsevier, vol. 32(2), pages 141-196, April.
    2. Williamson, Jeffrey G, 1997. "Globalization and Inequality, Past and Present," The World Bank Research Observer, World Bank, vol. 12(2), pages 117-135, August.
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    6. Wood, Adrian, 1995. "North-South Trade, Employment and Inequality: Changing Fortunes in a Skill-Driven World," OUP Catalogue, Oxford University Press, number 9780198290155.
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    10. Fogel, Robert W, 1994. "Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy," American Economic Review, American Economic Association, vol. 84(3), pages 369-395, June.
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    12. O'Rourke, Kevin H. & Williamson, Jeffrey G., 1997. "Around the European periphery 1870–1913: Globalization, schooling and growth," European Review of Economic History, Cambridge University Press, vol. 1(2), pages 153-190, August.
    13. Taylor, Alan M & Williamson, Jeffrey G, 1994. "Capital Flows to the New World as an Intergenerational Transfer," Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 348-371, April.
    14. Lindert, Peter H., 2000. "Three centuries of inequality in Britain and America," Handbook of Income Distribution, in: A.B. Atkinson & F. Bourguignon (ed.), Handbook of Income Distribution, edition 1, volume 1, chapter 3, pages 167-216, Elsevier.
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    JEL classification:

    • D3 - Microeconomics - - Distribution
    • F1 - International Economics - - Trade

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