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Scared to Be Poor: vulnerability and Poverty in Great Britain at the Beginning of the 20th century

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  • Federica Di Battista

Abstract

This work explores the determinants of poverty in Edwardian Britain. We use a new household budget sample collected between 1900 and 1914 to understand what role vulnerability played in determining poverty and undernutrition. First, using a probit model we find that due to perceived risk on one hand, and to social norms on the other, families purchased insurance schemes as a strategy to cope with uncertainty. Second, using recursive mixed process estimation, we find that the decision to insure caused a reallocation from food to precautionary expenditures, which led to a significant reduction in calorie availability.

Suggested Citation

  • Federica Di Battista, 2016. "Scared to Be Poor: vulnerability and Poverty in Great Britain at the Beginning of the 20th century," Rivista di storia economica, Società editrice il Mulino, issue 2, pages 269-299.
    • Handle: RePEc:mul:jrkmxm:doi:10.1410/84065:y:2016:i:2:p:269-299
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