Endogenous technological change and wage inequality

Article Abstract:

An economic model that addresses the issues of endogenous technological change and wage inequality is developed. The rise in wage inequality is observed to rise when the rate at which new technologies are introduced exceeds the rate at which they are absorbed. Fierce competition for scarce, technologically mobile labor is the reason for this phenomenon. However, the decline in the cost of innovation is due to the rise in the relative wage of highly skilled workers which drives up the cost of innovation.

Technological innovations, Wages, Wages and salaries, Labor productivity

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Animal spirits through creative destruction

Article Abstract:

The relation between business cycles and growth in a multisector economy through Schumpeterian process of creative destruction is examined.

Canada, Analysis, Business cycles

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Institutional entrepreneurs

Article Abstract:

The role of industrialists in changing market economy and institutions is presented.

China, Capitalism, Institutional economics

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