search query: @author Zilibotti, F. / total: 10
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| Author: | Doepke, M. Zilibotti, F. |
| Title: | Social class and the spirit of capitalism |
| Journal: | Journal of the European Economic Association
2005 : APR-MAY, VOL. 3:2-3, p. 516-524 |
| Index terms: | UNITED KINGDOM industries wealth |
| Language: | eng |
| Abstract: | This paper discusses the economic decline of the aristocracy, which was one of the key factors that accompanied the British Industrial Revolution. Standard theories of wealth inequality cannot explain why the aristocrats, in spite of their superior wealth and education, failed to be the main protagonists and beneficiaries of industrialization. The authors discuss recent research based on a model of endogenous preferences that is consistent with the demise of aristocracy. |
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