Strategic Factors in Nineteenth Century American Economic History

Strategic Factors in Nineteenth Century American Economic History

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Offering new research on strategic factors in the development of the nineteenth century American economya€”labor, capital, and political structurea€”the contributors to this volume employ a methodology innovated by Robert W. Fogel, one of the leading pioneers of the qnew economic history.q Fogel's work is distinguished by the application of economic theory and large-scale quantitative evidence to long-standing historical questions. These sixteen essays reveal, by example, the continuing vitality of Fogel's approach. The authors use an astonishing variety of data, including genealogies, the U.S. federal population census manuscripts, manumission and probate records, firm accounts, farmers' account books, and slave narratives, to address collectively market integration and its impact on the lives of Americans. The evolution of markets in agricultural and manufacturing labor is considered first; that concerning capital and credit follows. The demography of free and slave populations is the subject of the third section, and the final group of papers examines the extra-market institutions of governments and unions.There remains, however, the link between the decline in the valuation of firms reflected in a fall in stock prices and ... On the other hand, some have argued that a stock market crash can increase agency costs, causing investment and realanbsp;...

Title:Strategic Factors in Nineteenth Century American Economic History
Author:Claudia Goldin, Hugh Rockoff
Publisher:University of Chicago Press - 2008-04-15


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