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Engels' Pause: Technical Change, Capital Accumulation, and Inequality in the British Industrial Revolution.

Abstract:

The paper reviews the macroeconomic data describing the British economy from 1760 to 1913 and shows that it passed through a two stage evolution of inequality. In the first half of the 19th century, the real wage stagnated while output per worker expanded. The profit rate doubled and the share of profits in national income expanded at the expense of labour and land. After the middle of the 19th century, real wages began to grow in line with productivity, and the profit rate and factor shares ...

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Publisher copy:
10.1016/j.eeh.2009.04.004

Authors


Robert C. Allen More by this author
Journal:
Explorations in Economic History
Volume:
46
Issue:
4
Publication date:
2009
DOI:
URN:
uuid:a08ffea0-4a55-439a-9c98-478ee6d435de
Local pid:
oai:economics.ouls.ox.ac.uk:14625
Language:
English

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