Labor force participation rates for American men sixty and over are estimated for the period 1870 through 1937. They suggest a higher frequency of retirement and quite different trends in the incidence of retirement than have usually been supposed. Evidence is also presented to establish that many older industrial workers changed to less renumerative and less demanding occupations late in their working life. This “on-the-job retirement” may have made the transition from employment to full retirement less sudden than today.

Loan repudiations and property confiscations were common between medieval kings and individuals. Traditional accounts of these confiscations focus on factors affecting the kings, ignoring the motivations of the victims. This deficiency may be remedied by considering the problems faced on both sides of any agreement between a king and a group of citizens. A model is presented which explains the timing and the form of repudiations and confiscations without resorting to an assumption of irrationality by either party. It is general enough to address a persistent problem in the property rights view of government: How can an individual protect himself from abuses by his protector?

Between 1550 and 1730, privileged investors in France—nobles, officers, and wealthy merchants—bought up enormous quantities of land from peasants. The transfer of property has attracted considerable attention from historians, but it has never been satisfactorily explained. The paper invokes the tax exemptions the privileged enjoyed to account for the transfer—an explanation that fits both the chronology of the land sales and the identity of the purchasers. The paper then examines how the tax system throttled growth in the agricultural sector.

The journals of slave ship surgeons of the 1790s are used to address questions on the relative importance of African conditions versus those on ships, crowding, the effectiveness of Dolben's Act, and the interaction between slave and crew health. In contrast with previous work we find that most slaves who died did so near the middle of the voyage. Crowding was important to health and mortality, but the restrictions of Dolben's Act did little to reduce losses. The crew was largely isolated from patterns of disease among slaves.

Despite hundreds of studies of the influence of economic interests on the formation of the U.S. Constitution, no consensus has been reached. Our study of the Constitutional Convention differs from previous ones by offering an explicit theoretical model of delegates' voting behavior and employing multivariate statistical techniques. We extend our earlier work by analyzing new information on constituents' economic interests and ideology. Further our econometric results on individual roll-call votes strongly suggest delegates who owned slaves or represented slaveowning constituents were more likely to oppose issues favoring a national form of government.

The paper examines the economic role played by poor relief in early nineteenth-century England. A three-equation model is estimated to explain cross-parish variations in per capita relief expenditures, agricultural laborers' annual wage income, and unemployment rates. Relief expenditures are found to be related to crop mix, the political power of labor-hiring farmers, distance from London, and employment opportunities in cottage industry. The results strongly support the revisionist analysis of the Old Poor Law, and reject the analysis contained in the Report of the Royal Poor Law Commission.

Unlike most studies of uneven development before World War I, this paper uses the region (not the nation) as the unit of study. Weak market links with the national market partially explain persisting relative backwardness in the Habsburg Empire's eastern hinterland and in the American South. Even if product and factor markets had been perfectly integrated, institutional rigidities would have greatly retarded development. In the Empire, growth emerged in the west where serfdom was weakening and spread slowly as feudal institutions decayed. In America, capitalistic institutions promoted development in the North more thoroughly than did slavery and postbellum institutions in the South.

Biased technical change, scale economies, and factor substitution were part of U.S. manufacturing's technical response to factor price movements during the period 1850 to 1919. In this article we employ the cost dual of a Generalized Leontief production function to test directly for the presence of these three effects for nineteen two-digit manufacturing sectors. Biased technical change is found in all but one sector; scale economies in all but two; factor substitutability, in all but five. Estimates of scale and bias effects for labor, capital, and materials are presented by sector, and the results are compared with other recent work.

During 1850–1913 the growth of the world economy was not steady. The observed variations are described with the phrase “G-waves.” In contrast to Kondratieff long waves, G-waves lack a regular periodicity and amplitude.

This paper compares two financial institutions that provided the same functions at the same time, but in different countries and with different memberships. Though the London and New York stock exchanges appear to be alike between 1850 and 1914, they were not, as each responded in its own way to the forces acting upon it. The result was a radically different organization of the securities market in Britain and the United States. This had important implications for the money and capital markets and consequences for business and the economy.

Decreases in the racial schooling gap have been shown to account for one-third of the increase in the black-white income ratio from 1930 to 1970. But the usual measure of the gap, based on census educational attainment data, is flawed. Data on school enrollment rates and months of school attended reveal that schooling levels of blacks born in the late nineteeth century were far lower than census data indicate. With the corrections proposed, the narrowing of the racial schooling gap explains two-thirds of the rise in the black-white income ratio from 1930 to 1970.

The prevailing view of new mechanical technology is that it has, in large part, pushed labor out of agriculture. An alternative hypothesis is that labor has been pulled out of agriculture by higher wages in nonfarm occupations. The mechanical cotton harvester is used to test the two hypotheses. Estimation of a simultaneous-equation model of the labor market for cotton pickers reveals 79 percent of reduction in hand picking of cotton was due to increased nonfarm wages—the pull effect; the remaining 21 percent is attributed to the decreased cost of machine harvesting—the push effect.