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Unformatted text preview: cient political power, can
attempt to block growth.
The other important feature of early growth which undermined its
long-run viability was that it had latent within in it the seeds of its’
own destruction. This is because often the forms of governance which
generated it created large rents for those in power. Rents created
contests for rents and political instability which could undermine the
whole institutional equilibrium.
James A. Robinson (Harvard) The Emergence of Modern Economic Growth: A Comparative and Historical Analysis: L
September 28, 2009
16 / 25 Economic Losers - The Luddites Even if adopting industrial technology increases average living
standards, it quite likely has large distributional impact.
Mechanization made the skills of craftsmen worthless.
Between 1811 and 1816 there was a series of “Luddite Riots” (named
after their ‘
leader’Ned Ludd) which are though to have originated
through the resentment of skilled weavers who had been put out of
work by mechani...
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This document was uploaded on 02/28/2014 for the course ECON 2328 at Harvard.
- Fall '09