Measuring British Decline: Direct Versus Long-Span Income Measures
We provide 16 purchasing-power-parity-adjusted estimates of U.K. and U.S. income per capita and output per worker between 1872 and 1990 based on new estimates of their price levels. Our income benchmarks depart from current estimates in four crucial respects. The United States, not the United Kingdom, led in income per capita in the 1870s. The United Kingdom kept pace with the United States through the late Victorian era. Most of the United Kingdom s relative decline occurred between 1905 and 1950. Finally, the post-1950 performance of the U.K. economy was stronger than is now estimated.We thank Michael Edelstein for getting us interested in the topic. We are also indebted to two referees for comments on the first draft. Susan Carter, Greg Clark, C. Knick Harley, Alan Heston, Peter Lindert, Robert Lipsey, Luis Locay, Bryan Roberts, Christina Romer, Richard Sylla, Jeffrey Williamson, and the participants in a seminar at the University of California, Riverside gave helpful suggestions. Finally we are especially grateful to Deirdre McCloskey for advice at an early stage.
Volume (Year): 63 (2003)
Issue (Month): 03 (September)
|Contact details of provider:|| Postal: |
Web page: http://journals.cambridge.org/jid_JEH
When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:63:y:2003:i:03:p:826-851_54. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.