“If you’re born poor, you’re better off in Europe. But if you’re born rich, or born poor and have a lot of [initiative], you’re better off in the U.S.,” explains Alberto Alesina, summarizing an article he published with coauthor George-Marios Angeletos in the September 2005 issue of the American Economic Review.

In their article, Alesina, a Harvard University economist, and Angeletos, an economist at the Massachusetts Institute of Technology, address a long-standing puzzle in economics: Why do...


Want more? Sorry, the full text of this article is only available to subscribers. Subscribe now.

Already a subscriber? Please log in by entering your email address and password into the red login box at the top-right corner of this page.

Need to register for your premium online access, which is included with your paid subscription? Register here.

Tracker Pixel for Entry