IDEAS home Printed from https://ideas.repec.org/a/oup/oxecpp/v39y1987i4p641-78.html
   My bibliography  Save this article

Did English Factor Markets Fail during the Industrial Revolution?

Author

Listed:
  • Williamson, Jeffrey G

Abstract

This paper measures wage and rate-of-return gaps between agriculture and industry in the midst of England's industrial revolution. It then uses partial and general equilibrium analysis to assess the impact of factor-market failure. The failure seems to have been very large. It was manifested in terms of conventional deadweight losses a s well as in terms of distribution, employment, and accumulation effe cts. It appears that English industralization was seriously constrain ed by market failure during the first industrial revolution. Copyright 1987 by Royal Economic Society.

Suggested Citation

  • Williamson, Jeffrey G, 1987. "Did English Factor Markets Fail during the Industrial Revolution?," Oxford Economic Papers, Oxford University Press, vol. 39(4), pages 641-678, December.
  • Handle: RePEc:oup:oxecpp:v:39:y:1987:i:4:p:641-78
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0030-7653%28198712%292%3A39%3A4%3C641%3ADEFMFD%3E2.0.CO%3B2-E&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Norman Gemmell, & Tim Lloyd, & Marina Mathew, "undated". "Dynamic Sectoral Linkages and Structural Change in a Developing Economy," Discussion Papers 98/3, University of Nottingham, CREDIT.
    2. Borodkin, Leonid & Granville, Brigitte & Leonard, Carol Scott, 2008. "The rural/urban wage gap in the industrialisation of Russia, 1884–1910," European Review of Economic History, Cambridge University Press, vol. 12(01), pages 67-95, April.
    3. Jonathan J Adams, 2017. "Urbanization, Long-Run Growth, and the Demographic Transition," Working Papers 001001, University of Florida, Department of Economics.
    4. McCloskey, Deirdre Nansen, 2009. "Domestic Reshufflings, Such as Transport and Coal, Do Not Explain the Modern World," MPRA Paper 18925, University Library of Munich, Germany.
    5. Simpson, James, 2000. "Labour markets and rural unrest in Spanish agriculture, 1860-1936," IFCS - Working Papers in Economic History.WH 8561, Universidad Carlos III de Madrid. Instituto Figuerola.
    6. 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.
    7. Vollrath, Dietrich, 2009. "How important are dual economy effects for aggregate productivity?," Journal of Development Economics, Elsevier, vol. 88(2), pages 325-334, March.
    8. McCloskey, Deirdre Nansen, 2009. "Foreign Trade Was Not an Engine of Growth," MPRA Paper 19723, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:oxecpp:v:39:y:1987:i:4:p:641-78. 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: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: https://academic.oup.com/oep .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.