The other important feature of early growth which

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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.

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