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Invisible Handshakes in Lancashire: Cotton Spinning in the First Half of the Nineteenth Century

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  • Huberman, Michael

Abstract

In Lancashire cotton spinning in the heyday of laissez-faire capitalism the labor market did not operate as an auction market. Evidence on piece-rate flexibility, length of tenure, and seniority is consistent with Okun's contract approach. Both workers and firms incurred initial set-up costs. Workers wanted to protect their initial investments in training, and firms, faced with a labor supply that varied in reliability and regularity, had a desire to cover initial hiring and tryout costs. The need to maintain long-term attachments had implications for wage and employment adjustment and the age structure of the labor force.

Suggested Citation

  • Huberman, Michael, 1986. "Invisible Handshakes in Lancashire: Cotton Spinning in the First Half of the Nineteenth Century," The Journal of Economic History, Cambridge University Press, vol. 46(4), pages 987-998, December.
    • Handle: RePEc:cup:jechis:v:46:y:1986:i:04:p:987-998_05
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    Cited by:

    1. Levenson, Alec R. & Zoghi, Cindy & Gibbs, Michael & Benson, George, 2011. "Optimizing Incentive Plan Design: A Case Study," IZA Discussion Papers 5985, Institute of Labor Economics (IZA).
    2. Carmichael, H Lorne & MacLeod, W Bentley, 2000. "Worker Cooperation and the Ratchet Effect," Journal of Labor Economics, University of Chicago Press, vol. 18(1), pages 1-19, January.
    3. Domenech, Jordi, 2005. "Labour market adjustment to economic downturns in the Catalan textile industry, 1880-1910: did employers breach implicit contracts?," Economic History Working Papers 22333, London School of Economics and Political Science, Department of Economic History.

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