This article explores differences between the cotton industries in England and America in the early nineteenth century. I show that the two countries produced almost entirely different products: the Enlish made fine fabrics; the Americans, coarse. The cause of this disjunction is found in the American tariff policy, whichwas influenced by the Massachusetts cotton manufacturers. Since coarse spinning promoted vertical integration, the American product structure favored integration. This argument reveals that the variables analyzed were jointly determined, since the Massachusetts firms with the political clout to affect the tariff were vertically integrated.

There is at present no series of crop yields available for early modern England. This paper describes a method for calculating estimates of grain yields in bushels per acre using data derived from English probate inventories. Results are presented of 10-year average yields for wheat, rye, barley, oats, and peas for the two counties of Norfolk and Suffolk during 1587–98, 1628–40, and 1660–1735. These results are compared with other yield figures for the periods before and after these dates, and used to revise existing estimates of the progress of productivity changes.

Most explanations of trends in women's work emphasize women's role in childbearing, along with technological and organizational changes in production. The explanations neglect an important factor: the need to control sexuality in order to secure demographic order. Segregated employment enabled almost all family members to work, while discouraging heterosexual intimacy. Nineteenth-century attitudes illustrate the anxiety felt when unrelated men and women worked together. The argument is tested by correlating regional variation in illegitimacy, as a measure of failed social control, with variation in sex segregation.

This article expands upon the current “resource curse” literature by using newly collected county data, spanning over a century, to capture the short- and long-run effects of coal mining activity. It provides evidence that increased levels of coal production had positive net impacts on county-level population and manufacturing activity over an initial ten-year span, which become negative over the subsequent decades. The results provide evidence that any existence of a “resource curse” on local areas due to coal mining is a long-run phenomenon, and in the short run there are potential net benefits.

The greater flexibility associated with workers being able to choose the time and circumstance of their work allowed cottage manufacture to compete with technically more productive manufactories by rendering it more effective at harnessing a part time or offpeak workforce whose opportunity cost was low. Not only did this mean that cottage manufacture was better suited to the employment of women and children, who preferred flexibility in their hours and place of work, but also that the greater seasonality of labor supply in England led that economy to rely more on cottage manufacturing than did the United States during early industrialization.

To assess competing theories of democratization, we analyze British sovereign bond market responses to the 1832, 1867, and 1884 Reform Acts, and to two failed Chartist agitations for reform. Analyses of high-frequency 3 percent consol yield data and historical financial press suggest three conclusions. First, democratic reform episodes were preceded by increases in perceived political risk, comparable to democratizing episodes in other countries. Second, both democratic reform and repression were followed by yield declines. Third, the source of political risk in Britain was both social unrest and political deadlock. Together, the findings challenge the “Whig” characterization of British democratization as exceptionally risk-free.

Soon after establishing political control, the British colonial administration in southern Nigeria attempted to replace the existing currencies of the country with British currency. The traditional currencies competently discharged the functions of money, however, and it required fifty years before the pre-colonial currencies, attacked by the colonial authorities and unrecognized as legal tender, gradually lost standing and proved worthless to their last holders. Theoretical implications of these developments are discussed.

By-Employments, one may suppose, tend to ready preindustrial people for modern economic roles since they represent an incipient shift from agriculture to other occupations, spread skills useful to industrialization among the most backward and numerous part of the population, and stimulate ambition and geographical mobility. Although widespread in Western preindustrial societies, by-employments have been mainly treated there from the standpoint of the history of industry to the neglect of their effect on the habits, aptitudes, and outlook of fanners and their wives and children. This is partly due to the scattered and widely varied and changing forms of by-employments, which make it all but impossible to know what proportion of farmers practiced them and what part of their income they earned in this way.

Gold discoveries in 1848 set off a large and extremely rapid migration to California. This article uses newly collected data from the 1850 and 1852 Censuses of Population together with the public use sample of the 1850 Census of Population to examine who went to California and how they did economically. We find that the propensity to migrate was affected by the individual's age and literacy, distance of the state from California, and average state latitude. Consistent with the historical literature, we find that economic outcomes were generally small or even zero for miners but were positive and large for nonminers.

This article provides an overview of wealth inequality in Germany during 1300–1850, introducing a novel database. We document four alternating phases of inequality decline and growth. The Black Death (1347–1352) led to inequality decline, until about 1450. Thereafter, inequality rose steadily. The Thirty Years’ War (1618–1648) and the 1627–1629 plague triggered a second phase of inequality reduction. This distinguishes Germany from other European areas where inequality grew monotonically. Inequality growth resumed from about 1700, well before the Industrial Revolution. Our findings offer new material to current debates on the determinants of inequality change in western societies, past and present.

The essay challenges Karl Polanyi's position—that ancient Near Eastern economies knew state and temple administration but not price-making markets. It is found that the prerequisite functions of a market economy listed by Polanyi—the allocation of consumer goods, land, and labor through the supply-demand-price mechanism; risk-bearing organized as a market function; and loan markets—were all present in the ancient Near East. Although Polanyi criticized stage theories with their “predilection for continuity” he imposed his own version of continuity on history in lumping together many thousands of years under the rubric of “archaic society.” This perspective prevented him from recognizing that ancient Mesopotamia experienced lengthy and significant periods of unfettered market activity as well as periods of pervasive state regulation.

New data are used to construct a time series of real GDP in Germany for the period 1500–1850 using an indirect output estimation technique that relies on wages, prices, and sectoral employment. Until the mid-seventeenth century, real GDP per capita moved inversely with population. The eighteenth century saw a modest rise in output per head. From the late 1810s, economic growth gradually accelerated. The results shed new light on the reversal of fortunes in early modern Europe and the transition from a Malthusian regime to modern economic growth.

In September 1928, two eminent economists with an interest in price history met and conversed at Hanover, New Hampshire: Sir William Beveridge and Edwin F. Gay. The former was Director of the London School of Economics and the latter, Professor of Economic History at Harvard University. For some time Sir William had been conducting research in medieval English manorial records and had already amassed data on price movements of English commodities. Moreover, he seems to have shared Gay's long-held views that broader research was needed to provide carefully selected and critically handled long homogeneous series of commodity prices and wages for a number of countries.

I examine the portfolio allocations of women married in the years surrounding the 1870 Married Women's Property Act. The act, which gave women married after 1870 the right to own and control personal property, serves as a natural experiment to examine the extent to which individuals respond to changes in property law. I link wealth data to census information and find that, as a result of the act, women married after 1870 altered their portfolio allocations by shifting wealth-holding away from real property to personal property. The results indicate that the act greatly impacted the investment decisions of women.

In 1900 bovine tuberculosis was a serious and growing threat to animal and human health. Early private and state initiatives in the United States often increased the incentives for the interstate trade of diseased stock. One unscrupulous dealer exposed thousands of dairy herds and families to the disease. Our study helps explain the expanding federal role in regulating food safety. In this case regulations arose from genuine health concerns. Before the development of strict regulations, diagnostic innovations that could have helped prevent the spread of the disease actually made the operation of markets worse by aggravating asymmetric information problems.

I study the impacts of one of the largest regional development projects in American History, the Tennessee Valley Authority (TVA), on a variety of economic outcomes. The TVA has been noted as an example of how to develop a region's water power potential to stimulate growth. In what follows, I show using a county-level panel dataset, that the TVA had little impact on economic growth in the South. I attribute these results to the institutional history of the TVA and the contractual agreements it signed in an effort to expand its service territory.

“…as a pebble dropped in a pond causes ripples to flow outward to the surrounding shores, the influence of TVA'slow rates flows outward to surrounding areas…”

TVA's Influence on Electric Rates 1965

During the last two decades of the nineteenth century protection for agriculture became an important feature of the economic and political landscape in Germany. The large landlords, who specialized in arable agriculture, used their political power to get high levels of protection. Peasants, who specialized in animal husbandry, received lower but substantial and rising levels of protection. Material interest can thus help explain the peasants' political alliance with the landlords. Protection encouraged German agriculture to modernize along intensive lines, bringing to the countryside the social and political developments dreaded by the same conservative elites who promoted protection.

The Midwest made the transition from primary to secondary activity before 1880 by developing a large diversified industrial sector to serve burgeoning midwestern demand for manufactures. Because the Midwest had industrialized, its firms were able to compete with eastern producers in multiregional and national markets after 1880, when the transportation and communication systems were fully integrated. Supporting evidence is drawn from a national set of 327 urban-industrial counties, with a focus on the Midwest.

Geographic clustering in inventive activity has often been attributed to clustering in production. For the glass industiy, we find that despite a general association between location of invention and production, there were significant deviations. Centers of production were not always centers of invention, and some of the most inventive areas, such as southern New England, had very limited production. We hypothesize that the growth of a market for technology facilitated a geographic division of labor between invention and commercial exploitation and stimulated inventive activity in places where there were institutions capable of mediating among inventors, suppliers of capital, and firms seeking new technologies.

Students of agricultural history, of pre-industrial labor productivity, of New England town histories, and, especially, of pre-1840 rates of economic growth have long needed a price index of Massachusetts farm prices for this period. The article presents two indexes, covering 15 farm products, weighted by their relative importance, first in 1800, then in 1855. Among the several issues raised by the behavior of farm prices between 1750 and 1855, one of the most interesting may be what this behavior reveals about the market imbeddedness of these farmers, particularly in view of the fact that the prices come, not from market quotations, but from farm account books.