IDEAS home Printed from https://ideas.repec.org/a/tpr/restat/v72y1990i2p275-85.html
   My bibliography  Save this article

Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860

Author

Listed:
  • Steckel, Richard H

Abstract

This paper depicts and analyzes the wealth distribution and wealth mobility in a national sample of nearly 1,600 households matched in the 1850 and 1860 manuscript schedules of the census. Gini coefficients, a transition matrix, the Shorrocks measure, and a regression model of wealth accumulation are estimated from these data. The findings shed light on theories of the wealth distribution, life-cycle behavior, regional economic performance, accumulation patterns of ethnic and occupational groups, and the empirical basis for critiques of capitalism. Comparisons with modern data show that mid-nineteenth-century households were less mobile at the lower end of the wealth distribution, but more mobile at the upper end. Copyright 1990 by MIT Press.

Suggested Citation

  • Steckel, Richard H, 1990. "Poverty and Prosperity: A Longitudinal Study of Wealth Accumulation, 1850-1860," The Review of Economics and Statistics, MIT Press, vol. 72(2), pages 275-285, May.
  • Handle: RePEc:tpr:restat:v:72:y:1990:i:2:p:275-85
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0034-6535%28199005%2972%3A2%3C275%3APAPALS%3E2.0.CO%3B2-R&origin=repec
    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 look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

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


    Cited by:

    1. Sok Chul Hong, 2010. "Marriage and Men's Wealth Accumulation in the United States, 1860-1870," Korean Economic Review, Korean Economic Association, vol. 26, pages 27-58.
    2. Joshua L. Rosenbloom & Gregory W. Stutes, 2005. "Reexamining the Distribution of Wealth in 1870," NBER Working Papers 11482, National Bureau of Economic Research, Inc.
    3. Scott A. Carson, 2016. "Frederick Jackson Turner and the Westward Expanse: Changing Net Nutrition with Economic Development," CESifo Working Paper Series 5869, CESifo Group Munich.
    4. Burger, Ronelle & Booysen, Frikkie & Berg, Servaas van der & Maltitz, Michael von, 2006. "Marketable Wealth in a Poor African Country," MPRA Paper 9063, University Library of Munich, Germany.
    5. Livio Di Matteo, 2016. "Wealth Distribution and the Canadian Middle Class: Historical Evidence and Policy Implications," Canadian Public Policy, University of Toronto Press, vol. 42(2), pages 132-151, June.
    6. Richard H. Steckel & Jayanthi Krishnan, 1992. "Wealth Mobility in America: A View from the National Longitudinal Survey," NBER Working Papers 4137, National Bureau of Economic Research, Inc.
    7. Burger, Ronelle & Booysen, Frikkie & van der Berg, Servaas & von Maltitz, Michael, 2006. "Marketable Wealth in a Poor African Country: Using an index of consumer durables to investigate wealth accumulation by households in Ghana," WIDER Working Paper Series 138, World Institute for Development Economic Research (UNU-WIDER).
    8. Shireen Al Azzawi, 2010. "The Dynamics of Poverty and Inequality in an Era of Economic Liberalization: The Case of Egypt," Working Papers 539, Economic Research Forum, revised 09 Jan 2010.
    9. Di Matteo, Livio, 2013. "Women, wealth and economic change: An assessment of the impact of women's property law in Wentworth County, Ontario, 1872–1927," Explorations in Economic History, Elsevier, vol. 50(2), pages 285-307.
    10. Livio Di Matteo, 2008. "Wealth accumulation motives: evidence from the probate records of Ontario, 1892 and 1902," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 2(2), pages 143-171, July.

    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:tpr:restat:v:72:y:1990:i:2:p:275-85. 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: (Kristin Waites). General contact details of provider: http://mitpress.mit.edu/journals/ .

    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.