EH.Net Abstracts in Economic History

                ABSTRACTS IN ECONOMIC HISTORY
                     (c) 2005 EH.Net
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Name: James Roumasset
Email: jimr at hawaii.edu
Institution: University of Hawaii

Co-author: Brooks Kaiser
<bkaiser at gettysburg.edu>
Gettysburg College and University of Hawaii
Economics
2424 Maile Way
Honolulu, HI 96822

Title: Beyond Property: The Co-evolution of Specialization and 
Governance in an Island Economy

Internet Address of abstracted work: not available

By mail:
University of Hawaii
Economics
2424 Maile Way
Honolulu, HI 96822

Language: English

Abstract:
The history of Hawaii sheds light on both the theory of property and 
the mystery of the transition "from Malthus to Solow." We extend the 
theory of property by providing a theory of the co-evolution of 
governance and economic organization. The driving force in the theory 
is increasing specialization - first hierarchically controlled within 
geographically confined valleys and later extending throughout a more 
integrated economy facilitated by unified governance. As the number 
of occupations, the number of final goods and the number of 
intermediate goods continually expand, workers and managers move up 
the "quality ladder." Growth in per capita income is thus sustained 
by both the never-ending increase in specialization and the induced 
accumulation of human capital. Unlike the European case, however, the 
"industrial revolution" happened before the decline or stagnation in 
per capita income.

Bibliography: Roumasset, James and Brooks Kaiser. "Beyond Property: 
The Co-evolution of Specialization and Governance in an Island 
Economy." University of Hawaii, Working Paper, 2005.

Subject: D
Geographical Area: 3
Country/Region: Hawaii
Time Period:0

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