Arbeitspapier
Middle-Class Consensus, Social Capital and the Mechanics of Economic Development
This paper analyzes a heterogeneous-agents endogenous-growth model incorporating both transaction costs and social capital. An individual can either become an active part of the society?s middle-class networks of trust and mutual cooperation, thus making a positive contribution to overall social capital. Alternatively, the individual can stay socially disintegrated and free-ride on the community?s social capital. Due to the existence of asymmetric information, agents face a moral-hazard problem on the credit market which gives rise to transaction costs and can be alleviated by private, governmental or social governance structures. An increase in inequality and shrinking of the middle class depresses the community?s social capital, which, in turn, weakens the informal social governance system and increases economy-wide transaction costs. As a result a more unequal distribution lowers the economy?s growth rate.
- Sprache
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Englisch
- Erschienen in
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Series: Diskussionspapier ; No. 36
- Klassifikation
-
Wirtschaft
One, Two, and Multisector Growth Models
Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
- Thema
-
Social Capital; Inequality ; Middle Class ; Economic Growth ; Distribution
Entwicklung
Mittelstand
Social Capital
Neue Wachstumstheorie
Transaktionskosten
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Josten, Stefan Dietrich
- Ereignis
-
Veröffentlichung
- (wer)
-
Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre
- (wo)
-
Hamburg
- (wann)
-
2005
- Handle
- URN
-
urn:nbn:de:gbv:705-opus-16626
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Josten, Stefan Dietrich
- Helmut-Schmidt-Universität - Universität der Bundeswehr Hamburg, Fächergruppe Volkswirtschaftslehre
Entstanden
- 2005