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Can Marshall plus Malthus Explain the Evolution of Ancient Societies? A Review of Economic Prehistory by Dow and Reed

By Samuel Bowles and Amy Bogaard

Journal of Economic Literature, September 2024

In a work of extraordinary scope and scholarship, Gregory K. Dow and Clyde G. Reed deploy conventional microeconomic theory to explain "six transitions that shaped the world," namely, the transitions to sedentism, farming, inequality, war, cities, and sta...

Religion and Growth

By Sascha O. Becker, Jared Rubin, and Ludger Woessmann

Journal of Economic Literature, September 2024

We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology—together with standard growth models to frame the role of religion in economic growth. Unifying a growing literature, we argue that rel...

A Review of the Economics of Sexual Orientation and Gender Identity

By M. V. Lee Badgett, Christopher S. Carpenter, Maxine J. Lee, and Dario Sansone

Journal of Economic Literature, September 2024

This article reviews the growing literature on the economics of sexual orientation and gender identity, a field that did not exist thirty years ago. We summarize, evaluate, and synthesize the literature on LGBTQ+ peoples' economic lives and livelihoods ac...

A Journey into Harold Hotelling's Economics

By Marion Gaspard, Antoine Missemer, and Thomas Michael Mueller

Journal of Economic Literature, September 2024

Harold Hotelling (1895–1973) was a major contributor to twentieth-century American economics. The overall thrust of his research, and his view of the role of mathematics in the discipline, have so far received little attention. Based on an unprecedent...

Information Cascades and Social Learning

By Sushil Bikhchandani, David Hirshleifer, Omer Tamuz, and Ivo Welch

Journal of Economic Literature, September 2024

Social learning is the updating of beliefs based on observation of others. Such observation can lead to efficient aggregation of information, but also to inaccurate decisions, fragility of mass behaviors, and, in the case of information cascades, to compl...