Survival of the Richest

Gregory Clark from UC Davis gave a fascinating seminar on Economic Growth with a Malthusian theme ...and a corresponding conclusion: "The triumph of capitalism in the modern world thus may lie as much in our genes as in ideology or rationality." Here's the paper and the abstract .:
"Before 1800 all societies, including England, were Malthusian. The average man or woman had 2 surviving children. Such societies were also Darwinian. Some reproductively successful groups produced more than 2 surviving children, increasing their share of the population, while other groups produced less, so that their share declined. But unusually in England, this selection for men was based on economic success from at least 1250, not success in violence as in some other pre-industrial societies. The richest male testators left twice as many children as the poorest. Consequently the modern population of the English is largely descended from the economically successful of past generations. At the same time, from 1150 to 1800 in England there are clear signs of changes in average economic preferences towards more capitalist attitudes. The highly capitalistic nature of English society by 1800 individualism, low time preference rates, long work hours, high levels of human capital may thus stem from the nature of the Darwinian struggle in a very stable agrarian society in the long run up to the Industrial Revolution. The triumph of capitalism in the modern world thus may lie as much in our genes as in ideology or rationality."
Servatka

Category:

Education

Tags:

• Economics
• EconHistory
• Darwin
• Malthus
• Clark
• GregClark
• EconomicGrowth
• UCEconseminars08

[davepx]

Clark argues forcefully for inheritance of economic success. But “hereditary” doesn't mean “genetic”, least of all when his own research is based in part on bequests of real material wealth! We can say that economic advance is cumulative across generations: nothing succeeds like success. But Greg admits the constant replenishment of the wealthy from the ranks of the less well-off. Even he’s less convinced then he purports to be: “... probably genetics or socialisation… er, mainly” (!)

[edavej]

John Nash the man who had the greatest effect on game theory was

a. Mistaken

b. Delusional to the point of insanity.

/watch?v=Jam-8i_vbcA&feature=r­elated John Nash is his own words

[MmalaMaletaM]

Clark presents a consistent argument, but dangerous at the same time. Clark is likely to associate poverty to genetics and to conclude that people are not all equal ... or at least that there are people more equal than others ...

If this disgust you, well, you can always study Marx or Weber.

[MmalaMaletaM]

This theory of "the capitalist gene does not seem absurd at all. For example, countries like England and Germany have always had success in industry and commerce. The Jews are known for their flair for business. China, a communist dictatorship, is one of the most competitive countries in the world (-.-'undeniable facts).

[MmalaMaletaM]

Well, he is not wrong at all. One big question posed to economists is why some people get rich and others do not.

I think we've all thought about this: there are people who simply cannot (because they have no capacity) develop. However, say (or even think) this is politically incorrect. "People are all the same, the differences are in our minds."

[dmathew1024]

I'm impressed!

Thank God the Republican party is filled with people such as yourself. No one it has enjoyed so much success recently.

[anbalbach]

You can't argue, period. I am someone who understands what made this country great. Yet again, I am one up on you.

[dmathew1024]

If you aren't those things you represent them and their thought processes well.

If you aren't those things you aren't anything at all.

How can I argue with a ghost? I won't argue with a ghost.

[anbalbach]

Contempt, laughter, ridicule. I am neither conservative, Republican, white, old or greedy. Or angry, stupid or delusional. And how can I polish my guns when they're buried in the back yard? Bye, bitch.

[dmathew1024]

Emotionality, irrationality, anger ... the death cry of conservativism. You are all the Republican party has left so that political party is going the way of the Whigs.

Old angry white people ... greedy-stupid and delusional and so busy polishing their guns that they cannot see beyond the end of their nose.