IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

The price of human capital in a pre-industrial economy: Premiums and apprenticeship contracts in 18th century England

  • Minns, Chris
  • Wallis, Patrick

Training through apprenticeship provided the main mechanism for occupational human capital formation in pre-industrial England. This paper demonstrates how training premiums (fees) complemented the formal legal framework surrounding apprenticeship to secure training contracts. Premiums varied in response to scarcity rents, the expected productivity of masters and apprentices, and served as compensation for the anticipated risk of default. In most trades premiums were small enough to allow access to apprenticeship training for youths from modest families.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.sciencedirect.com/science/article/pii/S001449831300003X
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Elsevier in its journal Explorations in Economic History.

Volume (Year): 50 (2013)
Issue (Month): 3 ()
Pages: 335-350

as
in new window

Handle: RePEc:eee:exehis:v:50:y:2013:i:3:p:335-350
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622830

References listed on IDEAS
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.:

as in new window
  1. Tim Leunig & Chris Minns & Patrick Wallis, 2009. "Networks in the premodern economy: the market for London apprenticeships, 1600-1749," LSE Research Online Documents on Economics 28686, London School of Economics and Political Science, LSE Library.
  2. Chris Minns & Patrick Wallis, 2012. "Rules and reality: quantifying the practice of apprenticeship in early modern England," Economic History Review, Economic History Society, vol. 65(2), pages 556-579, 05.
  3. Allen, Robert C., 2001. "The Great Divergence in European Wages and Prices from the Middle Ages to the First World War," Explorations in Economic History, Elsevier, vol. 38(4), pages 411-447, October.
  4. Acemoglu, Daron & Pischke, Jorn-Steffen, 1999. "Beyond Becker: Training in Imperfect Labour Markets," Economic Journal, Royal Economic Society, vol. 109(453), pages F112-42, February.
  5. Galenson, David W., . "The Market Evaluation of Human Capital: The Case of Indentured Servitude," Working Papers 316, California Institute of Technology, Division of the Humanities and Social Sciences.
  6. Sheilagh Ogilvie, 2002. "Guilds, Efficiency, and Social Capital: Evidence from German Proto-Industry," CESifo Working Paper Series 820, CESifo Group Munich.
  7. Van Zanden, Jan Luiten, 2009. "The skill premium and the ‘Great Divergence’," European Review of Economic History, Cambridge University Press, vol. 13(01), pages 121-153, April.
  8. Hamilton, Gillian, 1996. "The Market for Montreal Apprentices: Contract Length and Information," Explorations in Economic History, Elsevier, vol. 33(4), pages 496-523, October.
  9. repec:cup:cbooks:9780521434508 is not listed on IDEAS
  10. Chris Minns & Patrick Wallis, 2011. "Why did (pre‐industrial) firms train?: premiums and apprenticeship contracts in 18th century England," Economic History Working Papers 41348, London School of Economics and Political Science, Department of Economic History.
  11. Gregory Clark, 2005. "The Condition of the Working-Class in England, 1209-2004," Working Papers 539, University of California, Davis, Department of Economics.
  12. Voth, Hans-Joachim, 2001. "The Longest Years: New Estimates Of Labor Input In England, 1760 1830," The Journal of Economic History, Cambridge University Press, vol. 61(04), pages 1065-1082, December.
  13. Epstein, S. R., 1998. "Craft Guilds, Apprenticeship, and Technological Change in Preindustrial Europe," The Journal of Economic History, Cambridge University Press, vol. 58(03), pages 684-713, September.
  14. Go, Sun & Lindert, Peter, 2010. "The Uneven Rise of American Public Schools to 1850," The Journal of Economic History, Cambridge University Press, vol. 70(01), pages 1-26, March.
  15. Wallis, Patrick, 2008. "Apprenticeship and Training in Premodern England," The Journal of Economic History, Cambridge University Press, vol. 68(03), pages 832-861, September.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eee:exehis:v:50:y:2013:i:3:p:335-350. 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: (Zhang, Lei)

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.