An Evolutionary Model of Explosive Human Capital and Technology Accumulation

In this paper, I propose an evolutionary growth model in order to explain the negative e¤ect income seems to have in modern societies on the natural growth. I discuss the mainstream growth theory to conclude that typical macroeconomic models are impotent to account for the historic, preindustrial growth regime or to link the economic and demographic changes that coincided during the Industrial Revolution. Based on this discussion, I propose a model, in which technology growth and human capital form a feedback system, each causing a growth of the other, through a selection of individuals with di¤erent approach towards investments in o¤springs. However, as the model assumes that consumption necessities increase with the human capital endowment, the ultimate equilibrium is stagnation and extinction of individuals orientated towards high human capital investments.