Pessimism Preserved: Real Wages in the British Industrial Revolution
AbstractThe paper compares Feinstein`s and Clark`s consumer price and real wage indices for the British industrial revolution. The sources for their weights and component price series are evaluated. While some of Clark`s innovations are improvements, many of his changes degrade the price index. A new price index is developed using the best components of Clark`s and Feinstein`s. This index is much closer to Feinstein`s than to Clark`s. The implied growth in real wages is also close to Feinstein`s and contradicts Clark`s `optimistic` view of rising working class living standards during the industrial revolution.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 314.
Date of creation: 01 Apr 2007
Date of revision:
Real Wage; Consumer Price Index; Inequality; Industrial Revoution;
Find related papers by JEL classification:
- D33 - Microeconomics - - Distribution - - - Factor Income Distribution
- E25 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- N33 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: Pre-1913
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-12-01 (All new papers)
- NEP-HIS-2007-12-01 (Business, Economic & Financial History)
- NEP-LAB-2007-12-01 (Labour Economics)
- NEP-MAC-2007-12-01 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- links for 2010-02-11
by Brad DeLong in Grasping Reality with the Invisible Hand on 2010-02-11 08:05:21
- Roger Fouquet, 2013. "Long Run Demand for Energy Services: the Role of Economic and Technological Development," Working Papers 2013-03, BC3.
- Allen, Robert C., 2009. "Engels' pause: Technical change, capital accumulation, and inequality in the british industrial revolution," Explorations in Economic History, Elsevier, vol. 46(4), pages 418-435, October.
- Fouquet, Roger, 2012.
"Trends in income and price elasticities of transport demand (1850–2010),"
Elsevier, vol. 50(C), pages 62-71.
- Roger Fouquet, 2012. "Trends in Income and Price Elasticities of Transport Demand (1850-2010)," Working Papers 2012-01, BC3.
- Roger Fouquet & Peter J.G Pearson, 2011. "The Long Run Demand for Lighting: Elasticities and Rebound Effects in Different Phases of Economic Development," Working Papers 2011-06, BC3.
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