Abstract'Social savings' is a cliometric concept to measure the benefit to society of technological improvements. The terms are defined, and the relationship between social savings and consumer surplus, total factor productivity and growth accounting measures is discussed. We critically outline Fogel's original application of social savings to American railroads in 1890, before looking at subsequent uses of the concept, both to other transport improvements and to other technological changes more generally. The paper concludes by setting out areas to which social savings could be applied, as well as setting out guidelines that future economic historians should use when applying the technique, in order to maximize the likely usefulness of any such work. Copyright � 2010 Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Economic Surveys.
Volume (Year): 24 (2010)
Issue (Month): 5 (December)
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- Leunig, Tim, 2010. "Social savings," Open Access publications from London School of Economics and Political Science http://eprints.lse.ac.uk/, London School of Economics and Political Science.
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