Social Status, Education, and Growth
研究社会地位回报如何影响人才配置和经济增长，发现地位追求可能导致低能力高财富者挤占高能力低财富者的教育机会，从而抑制增长，而更平等的财富分配可缓解此效应。
This paper investigates the implications of social rewards on the allocation of talent in society and consequently on the process of economic growth. The authors consider two sources of heterogeneity among workers: nonwage income and innate ability. A greater emphasis on status may induce the 'wrong' individuals, that is, those with low ability and high wealth, to acquire schooling, causing workers with high ability and low wealth to leave the growth-enhancing industries. This crowding-out effect, taken alone, discourages growth. Growth may be enhanced by a more egalitarian distribution of wealth, which reduces the demand for status. Copyright 1996 by University of Chicago Press.