Division of Human Capital Creates Surplus Wealth

Dennis Ridley ()
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Dennis Ridley: School of Business & Industry, Florida A&M University and Department of Scientific Computing, Florida State University, Tallahassee, Fl

Bulletin of Political Economy, 2017, vol. 11, issue 1, 1-20

Abstract: The results of an experimental abstraction of economic development for 79 countries resulting from their proximity to the highest form of capitalist economic adaptation, democracy and rule of law is reported. A structural contribution uses a least squares regression format to isolate and measure marginal effects of institutions on per capita real gross domestic product adjusted for purchasing power parity. Instead of focusing on natural resources, poor nations can improve their economic positions along a continuum by rearranging the institutional cultural priorities of capitalism, democracy and rule of law that promote trade and entrepreneurial development within their societal borders.

Date: 2017
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