Kenneth Sokoloff
Encyclopedia
Kenneth Lee Sokoloff was an American
economic historian
who was broadly interested in the interaction between initial factor endowment
s, institutions, and economic growth. In particular, he examined the influence of factor endowments on economic development in the New World
and the role of 19th century United States patent law
in encouraging innovation.
in 1974 and his doctorate
from Harvard University
in 1982 where Robert Fogel
served as his advisor. He joined the faculty at the University of California, Los Angeles
in 1980 where he spent the remainder of his career. He died of liver cancer
in Los Angeles, California
on May 21, 2007.
, Sokoloff studied the impact of countries' initial factor endowment
s on their later political and economic development. While much of the contemporary literature explained different growth rates across countries by appealing to differences in national culture or religion, Sokoloff used historical data to claim that much of the differential growth experiences of the US colonies and of New World
countries can be explained through differences in initial endowments of factors including human capital and levels of inequality. Moreover, Sokoloff and Engerman theorized that initial levels of wealth and political power inequality led to the development of institutions that perpetuated these inequalities, furthering their deleterious impact on long run economic growth. In article "Institutions, Factors Endowments, and Paths of Development in the New World", Sokoloff and Engerman made the specific hypothesis about inequality in wealth, human capital, and political power that restrict development of economics and compose the United States and Canada have developed very different. For example, grains, which is grown on small family farms in the U.S. and Canada that lead the distributions of wealth more equal; whereas, other colonies in the New World relied on slaves for their labor force that lead to distributions of wealth, human capital and political power very unequal between black (slaves) and white. In addition to wealth and political power inequality, they have also mentioned the inequality of schooling in Latin American countries. All of the Latin American countries had literacy requirement for voting. However, the government did not provide funds for public education that caused the Latin Americans to have a low literacy level, in which affected the voting rate. Therefore, a weak organizing schooling institution could affect the development of economy.
Sokoloff and his coauthors also sought to understand the relationship between economic institutions and technological innovation. In particular, Sokoloff stressed the importance of US patent institutions in fostering innovation by entrepreneurs. For instance, with Zorina Khan, Sokoloff examined the careers of 160 “great inventors” credited with significant technological discoveries during the early American industrialization. In contrast to previous findings, Sokoloff and Khan found that these inventors were active entrepreneurs who responded systematically to market incentives. On the other hand, Sokoloff, with Naomi Lamoreaux, found that over time the capital requirements associated with invention became prohibitively high, leading to firms taking over much of the innovative activity that was previously undertaken by individual entrepreneurs.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economic historian
Economic history
Economic history is the study of economies or economic phenomena in the past. Analysis in economic history is undertaken using a combination of historical methods, statistical methods and by applying economic theory to historical situations and institutions...
who was broadly interested in the interaction between initial factor endowment
Factor endowment
In economics a country's factor endowment is commonly understood as the amount of land, labor, capital, and entrepreneurship that a country possesses and can exploit for manufacturing. Countries with a large endowment of resources tend to be more prosperous than those with a small endowment, all...
s, institutions, and economic growth. In particular, he examined the influence of factor endowments on economic development in the New World
New World
The New World is one of the names used for the Western Hemisphere, specifically America and sometimes Oceania . The term originated in the late 15th century, when America had been recently discovered by European explorers, expanding the geographical horizon of the people of the European middle...
and the role of 19th century United States patent law
United States patent law
United States patent law was established "to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;" as provided by the United States Constitution. Congress implemented these...
in encouraging innovation.
Career and Personal Life
Born in Philadelphia, Sokoloff graduated from the American School of Paris in 1970, earned his bachelor’s degree from the University of PennsylvaniaUniversity of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
in 1974 and his doctorate
Doctorate
A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder to teach in a specific field, A doctorate is an academic degree or professional degree that in most countries refers to a class of degrees which qualify the holder...
from Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1982 where Robert Fogel
Robert Fogel
Robert William Fogel is an American economic historian and scientist, and winner of the 1993 Nobel Memorial Prize in Economic Sciences. He is now the Charles R. Walgreen Distinguished Service Professor of American Institutions and director of the Center for Population Economics at the...
served as his advisor. He joined the faculty at the University of California, Los Angeles
University of California, Los Angeles
The University of California, Los Angeles is a public research university located in the Westwood neighborhood of Los Angeles, California, USA. It was founded in 1919 as the "Southern Branch" of the University of California and is the second oldest of the ten campuses...
in 1980 where he spent the remainder of his career. He died of liver cancer
Hepatocellular carcinoma
Hepatocellular carcinoma is the most common type of liver cancer. Most cases of HCC are secondary to either a viral hepatitide infection or cirrhosis .Compared to other cancers, HCC is quite a rare tumor in the United States...
in Los Angeles, California
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
on May 21, 2007.
Academic Work
In a series of influential papers coauthored with Stanley EngermanStanley Engerman
Stanley Lewis Engerman is an economist and economic historian at the University of Rochester. He received his Ph.D. in economics in 1962 from Johns Hopkins University. Engerman is known for his quantitative historical work along with Nobel prize winning economist Robert Fogel...
, Sokoloff studied the impact of countries' initial factor endowment
Factor endowment
In economics a country's factor endowment is commonly understood as the amount of land, labor, capital, and entrepreneurship that a country possesses and can exploit for manufacturing. Countries with a large endowment of resources tend to be more prosperous than those with a small endowment, all...
s on their later political and economic development. While much of the contemporary literature explained different growth rates across countries by appealing to differences in national culture or religion, Sokoloff used historical data to claim that much of the differential growth experiences of the US colonies and of New World
New World
The New World is one of the names used for the Western Hemisphere, specifically America and sometimes Oceania . The term originated in the late 15th century, when America had been recently discovered by European explorers, expanding the geographical horizon of the people of the European middle...
countries can be explained through differences in initial endowments of factors including human capital and levels of inequality. Moreover, Sokoloff and Engerman theorized that initial levels of wealth and political power inequality led to the development of institutions that perpetuated these inequalities, furthering their deleterious impact on long run economic growth. In article "Institutions, Factors Endowments, and Paths of Development in the New World", Sokoloff and Engerman made the specific hypothesis about inequality in wealth, human capital, and political power that restrict development of economics and compose the United States and Canada have developed very different. For example, grains, which is grown on small family farms in the U.S. and Canada that lead the distributions of wealth more equal; whereas, other colonies in the New World relied on slaves for their labor force that lead to distributions of wealth, human capital and political power very unequal between black (slaves) and white. In addition to wealth and political power inequality, they have also mentioned the inequality of schooling in Latin American countries. All of the Latin American countries had literacy requirement for voting. However, the government did not provide funds for public education that caused the Latin Americans to have a low literacy level, in which affected the voting rate. Therefore, a weak organizing schooling institution could affect the development of economy.
Sokoloff and his coauthors also sought to understand the relationship between economic institutions and technological innovation. In particular, Sokoloff stressed the importance of US patent institutions in fostering innovation by entrepreneurs. For instance, with Zorina Khan, Sokoloff examined the careers of 160 “great inventors” credited with significant technological discoveries during the early American industrialization. In contrast to previous findings, Sokoloff and Khan found that these inventors were active entrepreneurs who responded systematically to market incentives. On the other hand, Sokoloff, with Naomi Lamoreaux, found that over time the capital requirements associated with invention became prohibitively high, leading to firms taking over much of the innovative activity that was previously undertaken by individual entrepreneurs.
External links
- Kenneth Sokoloff page at UCLA