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Puzzles in the economic institutions of capitalism: production coordination, contracting and work organisation in the Irish linen trade, 1750–1850

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  • Graham Brownlow
  • Frank Geary

Abstract

Pre-Famine Ireland is a byword for market failure and path dependence. Production of flax yarn and linen cloth was highly regulated and coordinated by the market rather than by firms. Contemporary political economists suggested that these institutional features provided evidence of organisational inefficiency. The historical evidence suggests that they were a rational response to transaction and production costs. The Irish case provides a test of the hypotheses that firms emerge to reduce the cost of market transactions. It suggests that institutions other than the firm can modify transaction costs, coordination of production can affect both transaction and production costs, and that agents choose between market and firm coordination given technology and factor prices. Finally, centralisation of production was driven by technology. Copyright 2005, Oxford University Press.

Suggested Citation

  • Graham Brownlow & Frank Geary, 2005. "Puzzles in the economic institutions of capitalism: production coordination, contracting and work organisation in the Irish linen trade, 1750–1850," Cambridge Journal of Economics, Oxford University Press, vol. 29(4), pages 559-576, July.
  • Handle: RePEc:oup:cambje:v:29:y:2005:i:4:p:559-576
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    File URL: http://hdl.handle.net/10.1093/cje/bei010
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    Cited by:

    1. Bielenberg, Andy & Geary, Frank, 2006. "Growth in manufacturing output in Ireland between the Union and the Famine: Some evidence," Explorations in Economic History, Elsevier, vol. 43(1), pages 119-152, January.

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