Family Farms in Minnesota Are Growing Larger

In work published in the 1980's Yujro Hayami and I elaborated a theory of institutional innovations in which institutional changes are induced, on the demand side, by changes in relative resource endowments and technical change and, on the supply side, by changes in cultural endowments and...

During the late 1990's, a spurt of growth in output and productivity led the business press, and some economists, to proclaim that the economy had entered a new era in which the old rules that governed cyclical and secular growth in the past no longer obtained. In the paper I present the results...