Considering the Counterfactual
Real Wages in the First Industrial Revolution
Bibliographic Data
| ID | 9715240 |
|---|---|
| Authors | Nicholas Crafts (0000-0002-1885-6240, University of Sussex & University of Warwick , UK, corresponding author), Terence C Mills (0000-0003-3757-9338, University of Loughborough , UK) |
| Year | 2022 |
| Volume | 132 |
| Issue | 645 |
| Pages | 1994-2006 |
| Publication date | 2022-06-17 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (PUBLISHER • GB) |
| DOI | 10.1093/ej/ueab081 |
| OpenAlex | W3204476968 |
| Language | EN |
| Citations received | 2 |
| References cited | 26 |
We investigate a structural model of demographic-economic interactions for England during 1570 to 1850. We estimate that the annual rate of population growth consistent with constant real wages was 0.4% before 1760 but 1.5% thereafter. We find that exogenous shocks increased population growth dramatically in the early decades of the Industrial Revolution. Simulations of our model show that if these demographic shocks had occurred before the Industrial Revolution the impact on real wages would have been catastrophic and that these shocks were largely responsible for very slow growth of real wages during the Industrial Revolution
Counterfactual thinking · Economics · Geography · Industrial Revolution · Labour economics · Population · Population growth · Real wages · Wage · Culture, Economy, and Development Studies · Demography · Economic Growth and Productivity · Historical Economic and Social Studies
The Demography of Victorian England and Wales
The British Industrial Revolution in Global Perspective
English Population History from Family Reconstitution 1580–1837
The diminution of the physical stature of the English male population in the eighteenth century
Malthus in state space
Malthus Was Right after All
Pessimism Perpetuated
Unreal Wages? Real Income and Economic Growth in England, 1260–1850
The Great Divergence in European Wages and Prices from the Middle Ages to the First World War
Engels’ pause
Numerare Est Errare
The Demographic Revolution in England
A Conundrum Resolved? Rethinking Courtship, Marriage and Population Growth in Eighteenth-Century England
Food and Fodder
| Citations per year | 0.4 |
|---|---|
| Citation span | 2021 - 2022 (2) |
| Highly cited | No |