Thursday, September 3, 2009

British Wages in the Early Modern Period

An interesting article about the welfare gains from the introduction of commodities like coffee and sugar in early modern Britain. The authors also argue that these gains lead to underestimation of the increase in wages in early modern Britain. I think they are right about the rising wages in Britain but a bit surprised that they think that that finding is new as Robert Allen makes the high wages in early modern, pre-industrial revolution Britain one of the key facts of his theory of the industrial revolution. Allen also discusses the role of new consumer goods in this period.

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