Wealth and the capitalist spirit

Explaining the Top Tail of the Wealth Distribution: Capitalist Spirit or Altruistic Bequests?

The aim of this paper is to explain the wealth distribution in the US economy, in particular the high concentration of wealth at the very top end of the distribution. In the literature it was conjectured that rich households accumulate more wealth (given their income) than what can be explained by standard consumption/saving models. To address this issue, I develop a general equilibrium heterog...

The Spirit of Capitalism, Economic Development, and National Wealth

In both original form and in popular discourse, Weber's classic Protestant Ethic thesis is grounded in the relationship between capitalist values and status attainment. Advocates and opponents of Weber’s thesis have primarily focused on the religious underpinnings of the ‘Protestant Ethic’ at the expense of the ideological dimension Weber saw as the key motivational force behind the rise of con...

e Capitalist and the Entrepreneur e Capitalist and the Entrepreneur Essays on Organizations and Markets

Torah and Mishpat: The Law and its Liberation Spirit

This essay has two primary objectives. First, acknowledging the fact that the philosopher’s fundamental responsibility, due to the conditions of social order in many regions and nations around the world, requires not merely thought but also actions that transform this world into a more equitable and inclusive one, the author proposes to show the reader a simple way (among many other possibiliti...

Capitalist Development and the Growth Paradigm

Abstract This chapter traces the relationship between the emergence of the current growth paradigm and the development of capitalism. It argues that economic growth is a fairly recent phenomenon which is inherently linked to the emergence of capitalism in the seventeenth and eighteenth centuries. It argues that economic growth in capitalism is inevitable, since this economic system is oriented ...