Why did (pre‐industrial) firms train?: premiums and apprenticeship contracts in 18th century England
AbstractDespite poor information flows, high levels of uncertainty, and low completion rates, training through apprenticeship provided the main mechanism for occupational human capital formation in pre‐industrial England. This paper demonstrates how training premiums complemented the formal legal framework surrounding apprenticeship to secure training contracts. Premiums compensated parties for the anticipated risk of default, but in most trades were small enough to allow access to apprenticeship training for youths from modest families.
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Bibliographic InfoPaper provided by London School of Economics and Political Science, Department of Economic History in its series Economic History Working Papers with number 41348.
Date of creation: Oct 2011
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Find related papers by JEL classification:
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- N0 - Economic History - - General
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
- J01 - Labor and Demographic Economics - - General - - - Labor Economics: General
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- Marc Klemp & Chris Minns & Patrick Wallis & Jacob Weisdorf, 2012. "Family Investment Strategies in Pre-modern Societies: Human Capital, Migration, and Birth Order in Seventeenth and Eighteenth Century England," Working Papers 0018, European Historical Economics Society (EHES).
- Marc Klemp & Chris Minns & Patrick Wallis & Jacob Weisdorf, 2013.
"Picking Winners? The Effect of Birth Order and Migration on Parental Human Capital Investments in Pre-Modern England,"
0037, Utrecht University, Centre for Global Economic History.
- Marc Klemp & Chris Minns & Patrick Wallis & Jacob Weisdorf, 2013. "Picking winners? The effect of birth order and migration on parental human capital investments in pre-modern England," European Review of Economic History, Oxford University Press, vol. 17(2), pages 210-232, May.
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