extra articles...



Adam Smith (1776), The Wealth of Nations, entire http://www.econlib.org/library/Smith/smWNtoc.htmlDouglass North and Barry Weingast (1989), "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," Journal of Economic History 49:4 (December), pp. 803-832 http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C803%3ACACTEO%3E2.0.CO%3B2-9William Baumol (1990), "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy 98:5(1) (Oct), pp. 893-921 http://links.jstor.org/sici?sici=0022-3808%28199010%2998%3A5%3C893%3AEPUAD%3E2.0.CO%3B2-ZPeter Temin (2001), "A Market Economy in the Early Roman Empire," Journal of Roman Studies 91, pp. 169-181. http://links.jstor.org/sici?sici=0075-4358%282001%2991%3C169%3AAMEITE%3E2.0.CO%3B2-N *Kevin H. O'Rourke and Jeffrey G. Williamson (2001), "After Columbus: Explaining the Global Trade Boom 1500-1800" (Cambridge: NBER Working Paper w8186, March) http://papers.nber.org/w8186

Recommended: Robert M. Solow (1985), "Economic History and Economics," American Economic Review Papers and Proceedings 75 (May): 328-331.http://www.jstor.org/view/00028282/di950057/95p00934/0.M. I. Finley (1970), "Aristotle and Economic Analysis," Past and Present, No. 47. (May), pp. 3-25 http://www.jstor.org/view/00312746/ap020049/02a00010/0.Oct. 18. The Malthusian Economy [DeLong]
Jared Diamond (1987), "The Invention of Agriculture: The Worst Mistake in the History of the Human Race," Discover http://www.agron.iastate.edu/courses/agron342/diamondmistake.htmlM. I. Finley (1965), "Technical Innovation and Economic Progress in the Ancient World," Economic History Review, New Series, 18:1, pp. 29-45 http://links.jstor.org/sici?sici=0013-0117%281965%292%3A18%3A1%3C29%3ATIAEPI%3E2.0.CO%3B2-1Gregory Clark (2005), "The Logic of the Malthusian Economy," chapter 2 of The Conquest of Nature http://www.econ.ucdavis.edu/faculty/gclark/GlobalHistory/Global%20History-2.pdfOct. 25. Trade and the Industrious Revolution [DeLong]
Avner Greif (1989), "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," Journal of Economic History 49:4 (December), pp. 857-882 http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C857%3ARACIMT%3E2.0.CO%3B2-MJ. Bradford DeLong and Andrei Shleifer (1993), "Princes and Merchants: City Growth Before the Industrial Revolution," Journal of Law and Economics 36:5 (Oct), pp. 671-702 http://www.j-bradford-delong.net/movable_type/archives/000638.html.Jan de Vries (1994), "The Industrious Revolution and the Industrial Revolution," Journal of Economic History 54:2 (June), pp. 249-70 http://links.jstor.org/sici?sici=0022-0507%28199406%2954%3A2%3C249%3ATIRATI%3E2.0.CO%3B2-8Adam Smith (1776), The Wealth of Nations, Book I and Book V http://www.econlib.org/library/Smith/smWNtoc.htmlNov. 1. Agriculture and Forced Labor in Early Modern Growth [DeLong]
Evsey Domar (1970), "The Causes of Slavery or Serfdom: A Hypothesis," Journal of Economic History, pp. 18-32 http://www.j-bradford-delong.net/movable_type/2003_archives/001447.htmlStanley Engerman and Kenneth Sokoloff (1994), "Factor Endowments, Institutions and Differential Paths of Development Among New World Economies: A View from Economic Historians of the United States" (Cambridge: NBER Working Paper no. h0066) http://papers.nber.org/papers/h0066.pdfClaudia Goldin and Kenneth Sokoloff (1984), "The Relative Productivity Hypothesis of Industrialization: The American Case, 1820-1850," Quarterly Journal of Economics 99 (August), pp. 461-87 http://links.jstor.org/sici?sici=0033-5533%28198408%2999%3A3%3C461%3ATRPHOI%3E2.0.CO%3B2-VO'Brien, Patrick (1982), "European Economic Development: the Contribution of the Periphery," Economic History Review, 1-18. http://links.jstor.org/sici?sici=0013-0117%28198202%292%3A35%3A1%3C1%3AEEDTCO%3E2.0.CO%3B2-WNov. 8. The Industrial Revolution in Britain [Eichengreen]
Joel Mokyr, "Technological Change, 1700-1830," in Roderick Floud and Donald McCloskey eds., The Economic History of Britain Since 1700, Cambridge: Cambridge University Press, second edition, 1994, pp.12-43. On reserve at Haas.N.F.R. Crafts, British Economic Growth During the Industrial Revolution, Oxford: Clarendon Press, 1986, pp.9-114 (read selectively). On reserve at Haas.Maxine Berg and Pat Hudson, "Rehabilitating the Industrial Revolution," Economic History Review new ser. 45, pp.23-50. Available online: http://www.jstor.org/view/00130117/di011838/01p0208u/0Peter Temin, "Two Views of the British Industrial Revolution," Journal of Economic History 57, pp.63-82. http://ideas.repec.org/p/nbr/nberhi/0081.htmlJeffrey Williamson, "Why Was British Economic Growth So Slow During the Industrial Revolution?" Journal of Economic History 44, pp.687-712 http://www.jstor.org/view/00220507/di975668/97p1230f/0Nov. 15. The Spread of Industrialization [DeLong]
Nicholas Crafts (2002), "The Solow Productivity Paradox in Historical Perspective," (London: CEPR Discussion Paper no.3142) http://www.cepr.org/pubs/dps/DP3142.aspAlfred D. Chandler (1992), "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives 6 (Summer) http://links.jstor.org/sici?sici=0895-3309%28199222%296%3A3%3C79%3AOCATEH%3E2.0.CO%3B2-XSusan Wolcott and Gregory Clark (1999). "Why Nation's Fail: Managerial Decisions and Performance in Indian Cotton Textiles, 1890-1938." Journal of Economic History, June http://links.jstor.org/sici?sici=0022-0507%28199906%2959%3A2%3C397%3AWNFMDA%3E2.0.CO%3B2-9Karl Marx and Friedrich Engels (1848), "Manifesto of the Communist Party" http://www.marxists.org/archive/marx/works/1848/communist-manifesto/Nov 29. American Exceptionalism [Eichengreen]
Paul David (1966), "The Mechanization of Reaping in the Ante-Bellum Midwest," in Henry Rosovsky (ed.), Industrialization in Two Systems, New York: Wiley, pp. 3-28, on reserve at Haas.Peter Temin (1966), "Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s," Journal of Economic History 26, pp. 277-298 http://www.jstor.org/view/00220507/di975596/97p0463m/0Kenneth Sokoloff (1984), "Was the Transition from the Artisanal Shop to the Non-Mechanized Factory Associated with Gains in Efficiency?" Explorations in Economic History 21, pp.351-382. http://www.nber.org/papers/w1386Robert Fogel (1962), "A Quantitative Approach to the Study of Railroads in American Economic Growth," Journal of Economic History 22, pp. 163-197, http://www.jstor.org/view/00220507/di975579/97p1266k/0Alfred Chandler (1990), Scale and Scope, Cambridge: Harvard University Press, chapter 3, pp. 51-89, on reserve at Haas.Dec 6. 19th Century Capital Markets [Eichengreen]
Alexander Gerschenkron (1964), Economic Backwardness in Historical Perspective, Cambridge, MA: Harvard University Press, chapter 1, pp. 5-30, on reserve at Haas.Naomi Lamoreaux (1986), "Banks, Kinship, and Economic Development: The New England Case," Journal of Economic History 46, pp.647-667, http://www.jstor.org/view/00220507/di975676/97p04006/0Hugh Rockoff (1974), "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking 6, pp. 141-167, http://www.jstor.org/view/00222879/di963065/96p0182b/0Lance Davis (1965), "The Investment Market, 1870-1914: The Evolution of a National Market," Journal of Economic History 25, pp. 355-393, http://www.jstor.org/view/00220507/di975592/97p0351c/0Howard Bodenhorn and Hugh Rockoff (1992), "Regional Interest Rates in Antebellum America," chapter 5 in Claudia Goldin and Hugh Rockoff (eds), Strategic Factors in 19th Century American Economic History, Chicago: University of Chicago Press, pp. 159-187, on reserve at Haas.Jan 17. 19th Century Labor Markets [Eichengreen]
Sanford Jacoby (1984), "The Development of Internal Labor Markets in American Manufacturing Firms," in Paul Osterman (ed.), Internal Labor Markets, Cambridge, Mass.: MIT Press, pp. 23-69, on reserve at Haas.Susan Carter and Elizabeth Savoca (1988), "Labor Mobility and Lengthy Jobs in 19th Century America," Journal of Economic History 50, pp. 1-16, < http://links.jstor.org/sici?sici=0022-0507%28199003%2950%3A1%3C1%3ALMALJI%3E2.0.CO%3B2-9 >John James (1990), "Job Tenure in the Gilded Age," in George Grantham and Mary McKinnon, eds., Labour Market Evolution, London: Routledge, pp.185-204, on reserve at Haas.Joshua Rosenbloom (1990), "One Market or Many? Labor Market Integration in the Late Nineteenth Century United States," Journal of Economic History 50, pp. 85-107, http://www.jstor.org/view/00220507/di975690/97p01544/0Joshua Rosenbloom (2002), "Employment Agencies and Labor Exchanges: The Impact of Intermediaries in the Market for Labor," in Looking for Work, Searching for Workers: American Labor Markets during Industrialization (Cambridge, MA: Cambridge University Press), chapter 3, pp. 46-79, on reserve at Haas.Jan. 24. The First Age of Globalization [Eichengreen]
Albert Fishlow (1985), (Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period,( International Organization 39, pp. 383-439, http://www.jstor.org/view/00208183/dm980251/98p00792/0Douglas Irwin (1998), "Did Late Nineteen Century U.S. Tariffs Promote Infant Industries? Evidence from the Tinplate Industry," NBER Working paper no. 6835 (December), http://www.nber.org/papers/w6835Arthur Bloomfield (1959), Monetary Policy Under the International Gold Standard, New York: Federal Reserve Bank of New York, on reserve at Haas.Hugh Rockoff (1983), "Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices," in Michael Bordo and Anna Schwartz (eds), A Retrospective on the Classical Gold Standard, Chicago: University of Chicago Press, pp. 613-651, on reserve at Haas.Jan. 31. The U.S. Depression [DeLong and Eichengreen]
Milton Friedman and Anna Schwartz (1963), A Monetary History of the United States, 1867-1960, Princeton: Princeton University Press, chapter 13, pp. 676-700, on reserve at Haas.Christina Romer (1990), "The Great Crash and the Onset of the Great Depression," Quarterly Journal of Economics 104, pp.719-736, http://www.jstor.org/view/00335533/di971078/97p00037/0Ben Bernanke (1983), "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression" American Economic Review 73, pp. 257-276, http://www.jstor.org/view/00028282/di950033/95p00602/0Paul Krugman, "Introduction" to John Maynard Keynes, The General Theory of Employment, Interest and Money http://www.pkarchive.org/economy/GeneralTheoryKeynesIntro.htmlJohn Maynard Keynes (1932), "The World's Economic Outlook," Atlantic http://www.theatlantic.com/unbound/flashbks/budget/keynesf.htmFeb. 7. The World Depression [Eichengreen]
Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (New York: Oxford University Press), chapter 1, pp. 3-28, on reserve at Haas.Ben Bernanke and Harold James, "The Gold Standard, Deflation and Financial Crisis in the Great Depression: An International Comparison," in Glenn Hubbard (ed), Financial Markets and Financial Crises, University of Chicago Press (1991), pp.33-68. On reserve at Haas.Margaret Weir and Theda Skocpol, "State Structures and Social Keynesianism: Responses to the Great Depression in Sweden and the United States," International Journal of Comparative Sociology 19, pp.4-29. [web link here]Feb. 14. The Post-World War II Golden Age [Eichengreen]
Peter Temin (2002), "The Golden Age of European Growth Reconsidered," European Review of Economic History 6, pp. 33-22. http://www.international.ucla.edu/cms/files/Temin.pdfMancur Olson (1996), "The Varieties of Eurosclerosis: The Rise and Decline of Nations Since 1982," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.73-94.Barry Eichengreen, "Institutions and Economic Growth: Europe Since 1945," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.38-72.Feb. 21. Combined and Uneven Development [DeLong]
Richard Easterlin (1981), "Why Isn't the Whole World Developed?" Journal of Economic History 41:1 (March), pp. 1-19 http://links.jstor.org/sici?sici=0022-0507%28198103%2941%3A1%3C1%3AWITWWD%3E2.0.CO%3B2-YAngus Maddison (1983), "A Comparison of Levels of GDP Per Capita in Developed and Developing Countries, 1700-1980," Journal of Economic History 43:1 (March), pp. 27-41 http://links.jstor.org/sici?sici=0022-0507%28198303%2943%3A1%3C27%3AACOLOG%3E2.0.CO%3B2-3J. Bradford DeLong and Larry Summers (1991), "Equipment Investment and Economic Growth," QJE, 445-502Lant Pritchett, "Divergence, Big Time," Journal of Economic Perspectives (Summer 1997), pp. 3-17, http://uclibs.org/PID/1011Dani Rodrik, "Getting Interventions Right: How South Korea and Taiwan Grew Rich," Economic Policy 20, (1995) pp. 55-107, http://papers.nber.org/papers/w4964.pdfFeb. 28. The Crisis of the Mixed Economy [DeLong]
Olivier Blanchard "European Unemployment: The Evolution of Facts and Ideas," unpublished manuscript, MIT (October 2005), http://www.nber.org/papers/w11750J. Bradford DeLong (1997), "America's Peacetime Inflation: The 1970s," in Christina Romer and David Romer. eds., Reducing Inflation: Motivation and Strategy (Chicago: University of Chicago Press). http://www.j-bradford-delong.net/pdf_files/Peacetime_Inflation.pdfRichard Ericson, "The Classical Soviet-Type Economy: Nature of the System and Implications for Reform," Journal of Economic Perspectives 5 (Fall 1991), pp. 11-28, http://uclibs.org/PID/1011William Nordhaus (2004), "A Retrospective on the 1970s Productivity Slowdown" http://mirror.nber.org/cgi-bin/sendWP.cgi/311459297/w10950.pdfJ. Bradford DeLong and Barry J. Eichengreen (2001), "Between Meltdown and Moral Hazard"
Allen, Robert C. (1999), “Tracking the Agricultural Revolution in England,” Economic History Review LII, pp.209-235.
Clark, Gregroy (1998), “Commons Sense: Common Property Rights, Efficiency and Institutional Change,” Journal of Economic History LVIII, pp.73-102.
Avner Greif (1989), "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," Journal of Economic History 49:4 (December), pp. 857-882http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C857%3ARACIMT%3E2.0.CO%3B2-M

  • DeLong and Shleifer


Econ 210a: Fall 2006: Memo Question for November 8
Memo Question for November 8:
Adam Smith's 1776 Inquiry into the Nature and Causes of the Wealth of Nations is not what we would call a work of "economics." What kind of a book is it? Who do you think its intended audience is? Of what is Smith trying to persuade his audience? Which of the conclusions that Smith reaches--and of which he is trying to persuade his audience--would we think of today as conclusions of "economics"?
October 31, 2006 at 03:28 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Questions | Permalink | Comments (0) | TrackBack (0)October 30, 2006
Economics 210a: Fall 2006: Readings, Revised Schedule
REVISED, MORE-FINAL SCHEDULE
Oct. 11. Organizational Meeting (Short) [DeLong]
Recommended: Robert M. Solow (1985), "Economic History and Economics," American Economic Review Papers and Proceedings 75 (May): 328-331.http://www.jstor.org/view/00028282/di950057/95p00934/0.M. I. Finley (1970), "Aristotle and Economic Analysis," Past and Present, No. 47. (May), pp. 3-25 http://www.jstor.org/view/00312746/ap020049/02a00010/0.Oct. 18. The Malthusian Economy [DeLong]
Jared Diamond (1987), "The Invention of Agriculture: The Worst Mistake in the History of the Human Race," Discover http://www.agron.iastate.edu/courses/agron342/diamondmistake.htmlM. I. Finley (1965), "Technical Innovation and Economic Progress in the Ancient World," Economic History Review, New Series, 18:1, pp. 29-45 http://links.jstor.org/sici?sici=0013-0117%281965%292%3A18%3A1%3C29%3ATIAEPI%3E2.0.CO%3B2-1Gregory Clark (2005), "The Logic of the Malthusian Economy," chapter 2 of The Conquest of Nature http://www.econ.ucdavis.edu/faculty/gclark/GlobalHistory/Global%20History-2.pdfOct. 25. Trade and the Industrious Revolution [DeLong]
Avner Greif (1989), "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," Journal of Economic History 49:4 (December), pp. 857-882 http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C857%3ARACIMT%3E2.0.CO%3B2-MJ. Bradford DeLong and Andrei Shleifer (1993), "Princes and Merchants: City Growth Before the Industrial Revolution," Journal of Law and Economics 36:5 (Oct), pp. 671-702 http://www.j-bradford-delong.net/movable_type/archives/000638.html.Jan de Vries (1994), "The Industrious Revolution and the Industrial Revolution," Journal of Economic History 54:2 (June), pp. 249-70 http://links.jstor.org/sici?sici=0022-0507%28199406%2954%3A2%3C249%3ATIRATI%3E2.0.CO%3B2-8Adam Smith (1776), The Wealth of Nations, Book I and Book V http://www.econlib.org/library/Smith/smWNtoc.htmlNov. 1. Agriculture and Forced Labor in Early Modern Growth [DeLong]
Evsey Domar (1970), "The Causes of Slavery or Serfdom: A Hypothesis," Journal of Economic History, pp. 18-32 http://www.j-bradford-delong.net/movable_type/2003_archives/001447.htmlStanley Engerman and Kenneth Sokoloff (1994), "Factor Endowments, Institutions and Differential Paths of Development Among New World Economies: A View from Economic Historians of the United States" (Cambridge: NBER Working Paper no. h0066) http://papers.nber.org/papers/h0066.pdfClaudia Goldin and Kenneth Sokoloff (1984), "The Relative Productivity Hypothesis of Industrialization: The American Case, 1820-1850," Quarterly Journal of Economics 99 (August), pp. 461-87 http://links.jstor.org/sici?sici=0033-5533%28198408%2999%3A3%3C461%3ATRPHOI%3E2.0.CO%3B2-VO'Brien, Patrick (1982), "European Economic Development: the Contribution of the Periphery," Economic History Review, 1-18. http://links.jstor.org/sici?sici=0013-0117%28198202%292%3A35%3A1%3C1%3AEEDTCO%3E2.0.CO%3B2-WNov. 8. Catch-Up Week [DeLong]
Nov. 15. The Industrial Revolution in Britain [Eichengreen]
Joel Mokyr, "Technological Change, 1700-1830," in Roderick Floud and Donald McCloskey eds., The Economic History of Britain Since 1700, Cambridge: Cambridge University Press, second edition, 1994, pp.12-43. On reserve at Haas.N.F.R. Crafts, British Economic Growth During the Industrial Revolution, Oxford: Clarendon Press, 1986, pp.9-114 (read selectively). On reserve at Haas.Maxine Berg and Pat Hudson, "Rehabilitating the Industrial Revolution," Economic History Review new ser. 45, pp.23-50. Available online: http://www.jstor.org/view/00130117/di011838/01p0208u/0Peter Temin, "Two Views of the British Industrial Revolution," Journal of Economic History 57, pp.63-82. http://ideas.repec.org/p/nbr/nberhi/0081.htmlJeffrey Williamson, "Why Was British Economic Growth So Slow During the Industrial Revolution?" Journal of Economic History 44, pp.687-712 http://www.jstor.org/view/00220507/di975668/97p1230f/0Nov 22. American Exceptionalism [Eichengreen]
Paul David (1966), "The Mechanization of Reaping in the Ante-Bellum Midwest," in Henry Rosovsky (ed.), Industrialization in Two Systems, New York: Wiley, pp. 3-28, on reserve at Haas.Peter Temin (1966), "Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s," Journal of Economic History 26, pp. 277-298 http://www.jstor.org/view/00220507/di975596/97p0463m/0Kenneth Sokoloff (1984), "Was the Transition from the Artisanal Shop to the Non-Mechanized Factory Associated with Gains in Efficiency?" Explorations in Economic History 21, pp.351-382. http://www.nber.org/papers/w1386Robert Fogel (1962), "A Quantitative Approach to the Study of Railroads in American Economic Growth," Journal of Economic History 22, pp. 163-197, http://www.jstor.org/view/00220507/di975579/97p1266k/0Alfred Chandler (1990), Scale and Scope, Cambridge: Harvard University Press, chapter 3, pp. 51-89, on reserve at Haas.Nov. 29. The Spread of Industrialization [DeLong]
Nicholas Crafts (2002), "The Solow Productivity Paradox in Historical Perspective," (London: CEPR Discussion Paper no.3142) http://www.cepr.org/pubs/dps/DP3142.aspAlfred D. Chandler (1992), "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives 6 (Summer) http://links.jstor.org/sici?sici=0895-3309%28199222%296%3A3%3C79%3AOCATEH%3E2.0.CO%3B2-XSusan Wolcott and Gregory Clark (1999). "Why Nation's Fail: Managerial Decisions and Performance in Indian Cotton Textiles, 1890-1938." Journal of Economic History, June http://links.jstor.org/sici?sici=0022-0507%28199906%2959%3A2%3C397%3AWNFMDA%3E2.0.CO%3B2-9Karl Marx and Friedrich Engels (1848), "Manifesto of the Communist Party" http://www.marxists.org/archive/marx/works/1848/communist-manifesto/Dec 6. 19th Century Capital Markets [Eichengreen]
Alexander Gerschenkron (1964), Economic Backwardness in Historical Perspective, Cambridge, MA: Harvard University Press, chapter 1, pp. 5-30, on reserve at Haas.Naomi Lamoreaux (1986), "Banks, Kinship, and Economic Development: The New England Case," Journal of Economic History 46, pp.647-667, http://www.jstor.org/view/00220507/di975676/97p04006/0Hugh Rockoff (1974), "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking 6, pp. 141-167, http://www.jstor.org/view/00222879/di963065/96p0182b/0Lance Davis (1965), "The Investment Market, 1870-1914: The Evolution of a National Market," Journal of Economic History 25, pp. 355-393, http://www.jstor.org/view/00220507/di975592/97p0351c/0Howard Bodenhorn and Hugh Rockoff (1992), "Regional Interest Rates in Antebellum America," chapter 5 in Claudia Goldin and Hugh Rockoff (eds), Strategic Factors in 19th Century American Economic History, Chicago: University of Chicago Press, pp. 159-187, on reserve at Haas.Jan 17. 19th Century Labor Markets [Eichengreen]
Sanford Jacoby (1984), "The Development of Internal Labor Markets in American Manufacturing Firms," in Paul Osterman (ed.), Internal Labor Markets, Cambridge, Mass.: MIT Press, pp. 23-69, on reserve at Haas.Susan Carter and Elizabeth Savoca (1988), "Labor Mobility and Lengthy Jobs in 19th Century America," Journal of Economic History 50, pp. 1-16, < http://links.jstor.org/sici?sici=0022-0507%28199003%2950%3A1%3C1%3ALMALJI%3E2.0.CO%3B2-9 >John James (1990), "Job Tenure in the Gilded Age," in George Grantham and Mary McKinnon, eds., Labour Market Evolution, London: Routledge, pp.185-204, on reserve at Haas.Joshua Rosenbloom (1990), "One Market or Many? Labor Market Integration in the Late Nineteenth Century United States," Journal of Economic History 50, pp. 85-107, http://www.jstor.org/view/00220507/di975690/97p01544/0Joshua Rosenbloom (2002), "Employment Agencies and Labor Exchanges: The Impact of Intermediaries in the Market for Labor," in Looking for Work, Searching for Workers: American Labor Markets during Industrialization (Cambridge, MA: Cambridge University Press), chapter 3, pp. 46-79, on reserve at Haas.Jan. 24. The First Age of Globalization [Eichengreen]
Albert Fishlow (1985), (Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period,( International Organization 39, pp. 383-439, http://www.jstor.org/view/00208183/dm980251/98p00792/0Douglas Irwin (1998), "Did Late Nineteen Century U.S. Tariffs Promote Infant Industries? Evidence from the Tinplate Industry," NBER Working paper no. 6835 (December), http://www.nber.org/papers/w6835Arthur Bloomfield (1959), Monetary Policy Under the International Gold Standard, New York: Federal Reserve Bank of New York, on reserve at Haas.Hugh Rockoff (1983), "Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices," in Michael Bordo and Anna Schwartz (eds), A Retrospective on the Classical Gold Standard, Chicago: University of Chicago Press, pp. 613-651, on reserve at Haas.Jan. 31. The U.S. Depression [DeLong and Eichengreen]
Milton Friedman and Anna Schwartz (1963), A Monetary History of the United States, 1867-1960, Princeton: Princeton University Press, chapter 13, pp. 676-700, on reserve at Haas.Christina Romer (1990), "The Great Crash and the Onset of the Great Depression," Quarterly Journal of Economics 104, pp.719-736, http://www.jstor.org/view/00335533/di971078/97p00037/0Ben Bernanke (1983), "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression" American Economic Review 73, pp. 257-276, http://www.jstor.org/view/00028282/di950033/95p00602/0Paul Krugman, "Introduction" to John Maynard Keynes, The General Theory of Employment, Interest and Money http://www.pkarchive.org/economy/GeneralTheoryKeynesIntro.htmlJohn Maynard Keynes (1932), "The World's Economic Outlook," Atlantic http://www.theatlantic.com/unbound/flashbks/budget/keynesf.htmFeb. 7. The World Depression [Eichengreen]
Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (New York: Oxford University Press), chapter 1, pp. 3-28, on reserve at Haas.Ben Bernanke and Harold James, "The Gold Standard, Deflation and Financial Crisis in the Great Depression: An International Comparison," in Glenn Hubbard (ed), Financial Markets and Financial Crises, University of Chicago Press (1991), pp.33-68. On reserve at Haas.Margaret Weir and Theda Skocpol, "State Structures and Social Keynesianism: Responses to the Great Depression in Sweden and the United States," International Journal of Comparative Sociology 19, pp.4-29. [web link here]Feb. 14. The Post-World War II Golden Age [Eichengreen]
Peter Temin (2002), "The Golden Age of European Growth Reconsidered," European Review of Economic History 6, pp. 33-22. http://www.international.ucla.edu/cms/files/Temin.pdfMancur Olson (1996), "The Varieties of Eurosclerosis: The Rise and Decline of Nations Since 1982," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.73-94.Barry Eichengreen, "Institutions and Economic Growth: Europe Since 1945," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.38-72.Feb. 21. Combined and Uneven Development [DeLong]
Richard Easterlin (1981), "Why Isn't the Whole World Developed?" Journal of Economic History 41:1 (March), pp. 1-19 http://links.jstor.org/sici?sici=0022-0507%28198103%2941%3A1%3C1%3AWITWWD%3E2.0.CO%3B2-YAngus Maddison (1983), "A Comparison of Levels of GDP Per Capita in Developed and Developing Countries, 1700-1980," Journal of Economic History 43:1 (March), pp. 27-41 http://links.jstor.org/sici?sici=0022-0507%28198303%2943%3A1%3C27%3AACOLOG%3E2.0.CO%3B2-3J. Bradford DeLong and Larry Summers (1991), "Equipment Investment and Economic Growth," QJE, 445-502Lant Pritchett, "Divergence, Big Time," Journal of Economic Perspectives (Summer 1997), pp. 3-17, http://uclibs.org/PID/1011Dani Rodrik, "Getting Interventions Right: How South Korea and Taiwan Grew Rich," Economic Policy 20, (1995) pp. 55-107, http://papers.nber.org/papers/w4964.pdfFeb. 28. The Crisis of the Mixed Economy [DeLong]
Olivier Blanchard "European Unemployment: The Evolution of Facts and Ideas," unpublished manuscript, MIT (October 2005), http://www.nber.org/papers/w11750J. Bradford DeLong (1997), "America's Peacetime Inflation: The 1970s," in Christina Romer and David Romer. eds., Reducing Inflation: Motivation and Strategy (Chicago: University of Chicago Press). http://www.j-bradford-delong.net/pdf_files/Peacetime_Inflation.pdfRichard Ericson, "The Classical Soviet-Type Economy: Nature of the System and Implications for Reform," Journal of Economic Perspectives 5 (Fall 1991), pp. 11-28, http://uclibs.org/PID/1011William Nordhaus (2004), "A Retrospective on the 1970s Productivity Slowdown" http://mirror.nber.org/cgi-bin/sendWP.cgi/311459297/w10950.pdfJ. Bradford DeLong and Barry J. Eichengreen (2001), "Between Meltdown and Moral Hazard"October 30, 2006 at 01:34 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Readings | PermalinkOctober 24, 2006
Econ 210a: Fall 2006: Trade and the Industrious Revolution Major Headings
Oct. 25. Trade and the Industrious Revolution:
Avner Greif (1989), "Reputation and Coalitions in Medieval Trade: Evidence on the Maghribi Traders," Journal of Economic History 49:4 (December), pp. 857-882 http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C857%3ARACIMT%3E2.0.CO%3B2-M
How is "trade without law" possible?How much "trade without law" can there be?What would Ronald Coase say about this situation?Are game-theoretic models of these kinds of interactions adequate?What if you have no insular, despised ethnic group around?J. Bradford DeLong and Andrei Shleifer (1993), "Princes and Merchants: City Growth Before the Industrial Revolution," Journal of Law and Economics 36:5 (Oct), pp. 671-702 http://www.j-bradford-delong.net/movable_type/archives/000638.html.
Why isn't monarchy good enough?Hobbes called it "Leviathan"Mancur Olson called it a "stationary bandit"Why do DeLong and Shleifer say that "Leviathan" alone is insufficient?How strong is DLS's empirical evidence, really?Why should "merchants" be different from "princes"?The peculiar status of the European city...Why so few "merchants" elsewhere in the early-modern world?ChinaIndiaMiddle East (Ibn Khaldun)Jan de Vries (1994), "The Industrious Revolution and the Industrial Revolution," Journal of Economic History 54:2 (June), pp. 249-70 http://links.jstor.org/sici?sici=0022-0507%28199406%2954%3A2%3C249%3ATIRATI%3E2.0.CO%3B2-8
What, exactly, changes to make the "industrious revolution" possible?What did peasants do in the evening before the "industrious revolution"?What did they do afterwards?How large can these effects plausibly be?What is an "entre-preneur"?Adam Smith (1776), The Wealth of Nations, Book I and Book V http://www.econlib.org/library/Smith/smWNtoc.html
The literature of "political oeconomy""The system of natural liberty" as a game-changing insightHow reliant is Book V on Book I?October 24, 2006 at 08:40 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Notes | Permalink | Comments (0) | TrackBack (0)Economics 210a: Fall 2006: Memo Question for November 1
ECONOMICS 210A: MEMO QUESTION FOR November 1: Agriculture and Forced Labor in Early Modern Growth
Adam Smith confidently predicted that slavery was on its way out for economic reasons. In commercial society, manumission would be the rule because the carrot of working for yourself is much more efficient than the stick of being whipped by others. Was Adam Smith right? If you conclude he was wrong, why was he wrong?
October 24, 2006 at 08:30 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Questions | PermalinkEcon 210a: Fall 2006: Agriculture and Forced Labor in Early Modern Growth: Recommended Readings
Recommended auxiliary readings:
Daron Acemoglu, Simon Johnson and James A. Robinson (2005), "The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth," American Economic Review http://econ-www.mit.edu/faculty/download_pdf.php?id=1181.
Robert Brenner (1977), "The Origins of Capitalist Development: A Critique of Neo-Smithian Marxism," New Left Review I/104 http://www.newleftreview.net/?page=article&view=185.
Paul David and Peter Temin (1976), "Slavery: The Progressive Institution?" in Paul David et. al., Reckoning with Slavery, chapter 5.
Robert Fogel and Stan Engerman (1974), Time on the Cross: The Economics of American Negro Slavery, chapters 1, 4, and 6.
David Galenson (1981), White Servitude in Colonial America, chapter 9.
Roger Ransom and Richard Sutch (1977), One Kind of Freedom: The Economic Consequences of Emancipation, chapters 2, 3, and 9.
Barbara L. Solow (1987), "Capitalism and Slavery in the Exceedingly Long Run," in B.L. Solow and S.L. Engerman (eds.), British Capitalism and Caribbean Slavery: The Legacy of Eric Williams (Cambridge University Press), pp. 51-77.
October 24, 2006 at 08:24 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Readings | PermalinkEconomics 210a: Fall 2006: Memo Grading
The grading policy for memos will be:
14 memos. 2 points each. As follows:
0 - not handed in 1 - handed in, but could have been written without thinking about the reading 2 - reflects upon the reading 3 - teaches us something
October 24, 2006 at 07:57 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Questions | Permalink | Comments (0) | TrackBack (0)October 18, 2006
Economics 210a: Fall 2006: Memo Question for October 25
ECONOMICS 210A: MEMO QUESTION FOR OCTOBER 25 How much of a difference does "good government"--that is, a government that cares about commerce and enforces contracts more-or-less honestly--appear to have made in the centuries before the industrial revolution in Britain?October 18, 2006 at 10:33 AM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Questions | Permalink | Comments (0) | TrackBack (0)October 13, 2006
Econ 210a: Fall 2006: Trade and Industriousness: Recommended, Highly Optional, Readings
Recommended (but not required: only for those of you with great interest and copious amounts of spare time) readings for October 25:
Adam Smith (1776), The Wealth of Nations, entire http://www.econlib.org/library/Smith/smWNtoc.htmlDouglass North and Barry Weingast (1989), "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," Journal of Economic History 49:4 (December), pp. 803-832 http://links.jstor.org/sici?sici=0022-0507%28198912%2949%3A4%3C803%3ACACTEO%3E2.0.CO%3B2-9William Baumol (1990), "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy 98:5(1) (Oct), pp. 893-921 http://links.jstor.org/sici?sici=0022-3808%28199010%2998%3A5%3C893%3AEPUAD%3E2.0.CO%3B2-ZPeter Temin (2001), "A Market Economy in the Early Roman Empire," Journal of Roman Studies 91, pp. 169-181. http://links.jstor.org/sici?sici=0075-4358%282001%2991%3C169%3AAMEITE%3E2.0.CO%3B2-N *Kevin H. O'Rourke and Jeffrey G. Williamson (2001), "After Columbus: Explaining the Global Trade Boom 1500-1800" (Cambridge: NBER Working Paper w8186, March) http://papers.nber.org/w8186October 13, 2006 at 10:11 AM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Readings | Permalink | Comments (0) | TrackBack (0)October 12, 2006
A Note: Natural Resources and Pre-Industrial Malthusian Population Dynamics
In the year 1--we guess--world population was about 170 million. In the year 1650--we guess--it was about 540 million. This tripling of world population over the course of one and two-thirds millennia was accompanied by very little improvement in the standard of living of the median peasant (though things may well have been very different for the upper-class elite). We can thus say that world real GDP--at least when measured in terms of necessities rather than luxuries--roughly tripled over this one and two-thirds millenium.
We can feed these numbers to a standard Solow growth model with natural resources, as in:
J. Bradford DeLong (2006), "Lecture Notes: Econ 101B: Explorations in the Theory of Economic Growth: Natural Resources and Malthusian Population Dynamics" http://delong.typepad.com/print/20060905_lecture_notes.pdf
We then conclude that the rate of real GDP and population growth over this period was roughly 0.07% per year. Under the further assumption that natural resources had a parameter of roughly 0.3 in the world economy's production function back then, we can calculate that total factor productivity growth in the pre-industrial world averaged 0.02% per year.
Compare and contrast that to the 2-3% per year of total factor productivity growth in the world today.
October 12, 2006 at 01:30 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Notes | Permalink | Comments (0) | TrackBack (0)Post-Neolithic Pre-Industrial Economies: Recommended, Highly Optional, Readings
Recommended (but not required: only for those of you with great interest and copious amounts of spare time) readings for October 18:
William Godwin (1793), "An Enquiry Concerning Political Justice" http://dwardmac.pitzer.edu/anarchist_archives/godwin/PJfrontpiece.htmlThomas R. Malthus (1795), "An Essay on the Principle of Population" http://www.econlib.org/library/Malthus/malPlong.htmlPaul R. Ehrlich (1968), The Population Bomb http://en.wikipedia.org/wiki/The_Population_BombPeter H. Lindert (1986), "Unequal English Wealth since 1670," The Journal of Political Economy 94:6 (December), pp. 1127-1162 http://www.jstor.org/view/00223808/di951041/95p0070r/0Michael Kremer (1993), "Population Growth and Technological Change: One Million B.C. to 1990," Quarterly Journal of Economics 108:3 (August), pp. 681-716 http://links.jstor.org/sici?sici=0033-5533%28199308%29108%3A3%3C681%3APGATCO%3E2.0.CO%3B2-ARichard H. Steckel (1995), "Stature and the Standard of Living," Journal of Economic Literature 33:4 (December), pp. 1903-1940 http://links.jstor.org/sici?sici=0022-0515%28199512%2933%3A4%3C1903%3ASATSOL%3E2.0.CO%3B2-CJ. Bradford DeLong (1998), "Estimates of World GDP, One Million B.C. – Present " http://delong.typepad.com/print/20061012_LRWGDP.pdfGregory Clark (2004), "Lifestyles of the Rich and Famous: Living Costs of the Rich versus the Poor in England, 1209-1869" http://www.iisg.nl/hpw/papers/clark.pdf#search=%22clark%20lifestyles%20of%20the%20rich%20and%20famous%22Kenneth Arrow et al. (2004), "Are We Consuming too Much?" http://www.atypon-link.com/AEAP/doi/pdf/10.1257/0895330042162377Gregory Clark (2005), "Living Standards in the Malthusian Era," chapter 3 of The Conquest of Nature http://www.econ.ucdavis.edu/faculty/gclark/GlobalHistory/Global%20History-3.pdfOctober 12, 2006 at 12:38 PM in ARCHIVED 210a 2006-2007, ARCHIVED 210a 2006-2007 Notes, ARCHIVED 210a 2006-2007 Readings | Permalink | Comments (0) | TrackBack (0)
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Hugh Rockoff (1983), "Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices," in Michael Bordo and Anna Schwartz (eds), A Retrospective on the Classical Gold Standard, Chicago: University of Chicago Press, pp. 613-651, on reserve at Haas [REFERENCE]
Peter Temin (1966), "Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s," Journal of Economic History 26, pp. 277-298http://www.jstor.org/view/00220507/di975596/97p0463m/0
Claudia Goldin and Kenneth Sokoloff (1984), "The Relative Productivity Hypothesis of Industrialization: The American Case, 1820-1850," Quarterly Journal of Economics 99 (August), pp. 461-87 http://links.jstor.org/sici?sici=0033-5533%28198408%2999%3A3%3C461%3ATRPHOI%3E2.0.CO%3B2-V
Kenneth Sokoloff (1984), ìWas the Transition from the Artisanal Shop to the Non- Mechanized Factory Associated with Gains in Efficiency?î Explorations in Economic History 21, pp.351-382. http://www.nber.org/papers/w1386
Richard Langlois (2003), “The Vanishing Hand: The Changing Dynamics of Industrial Capitalism,” Industrial and Corporate Change 12, pp.351-385.
Leslie Hannah (2008), “Logistics, Market Size, and Giant Plants in the Early Twentieth Century: A Global View,” Journal of Economic History 68, pp.46-79.
Caroline Fohlin (1999), “Universal Banking in Pre-World War I Germany: Model or Myth?” Explorations in Economic History 36, pp.305-343. http://www.sciencedirect.com/science?ob=PublicationURL&cdi=6796&pubType=J& _acct=C000059607&version=1&urlVersion=0&userid=4420&md5=993c9a8ceb7eea 409609eccce5b92bb7&jchunk=36#36
Alexander Gerschenkron Economic Backwardness in Historical Perspective
J. Bradford DeLong, J.P. Morgan
Dale, Richard, Johannie Johnson and Leilei Tang (2005), “Financial Markets Can Go Mad: Evidence of Irrational Behavior During the South Sea Bubble,” Economic History Review LCIII, pp.233-271.
Hugh Rockoff (1974), “The Free Banking Era: A Reexamination,” Journal of Money, Credit and Banking 6, pp. 141-167, http://uclibs.org/PID/19138.
Calomiris, Charles (1990), “Is Deposit Insurance Necessary? A Historical Perspective,” Journal of Economic History L, pp.283-295. Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (New York: Oxford University Press), chapter 1, pp. 3-28, on reserve at Haas.
Albert Fishlow (1985), "Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period," International Organization 39, pp. 383-439, http://www.jstor.org/view/00208183/dm980251/98p00792/0

Memo Questions for 2007-2008:
The grading policy for memos will be:
14 memos. 2 points each. As follows:
0 - not handed in 1 - handed in, but could have been written without thinking about the reading 2 - reflects upon the reading 3 - teaches us professors something
Weekly pre-class memo questions
January 30: Was it in fact the case--as UCLA's Jared Diamond maintains-that the invention of agriculture was the worst mistake in the history of the human race? What can we say about the causes of the fact that in some human societies technological and organizational progress appears relatively slow and in others relatively fast? And is there a relationship between these two questions?
February 6: malthus
February 13: industrious revolution
February 20: Judging by the readings, how much of a difference does "good government"--that is, a government that cares about commerce and enforces contracts more-or-less honestly--appear to have made in the centuries before the industrial revolution in Britain?
February 27: early modern globalization
March 5: wars, colonies, et cetera
March 12: Maxine Berg and Pat Hudson write that the "historiography of the industrial revolution in England has moved away from viewing the late eighteenth and early nineteenth centuries as a unique turning point in economic and social development." Do you agree with their conclusion that the literature has moved too far in this direction? Why or why not?
In his article Voth cites the elegant dictum of D. N. McCloskey that "ingenuity rather than abstention governed the Industrial Revolution." By this McCloskey meant that technological change was more important than a rise in investment (and a corresponding decline in current consumption) in driving economic growth during the Industrial Revolution.
Voth concludes his article as follows: "Abstention seems to have been more important than invention [in bringing about the Industrial Revolution]but it was abstention from leisure ... that was at the core of economic growth."
Does Voth provide the evidence needed to persuade you that he is correct? Is his evidence convincing to Clark? What evidence would you deem necessary to make this case?
March 19:
April 2:
April 9: An influential literature cites the scarcity of labor as a key factor in the emergence of the "American System of Production." How much of this argument (if any) survives Peter Temin's 1966 critique?
April 16: Textbooks say that the gold standard had internal mechanisms that worked automatically to maintain both price and balance-of-payments stability. On what grounds do Arthur Bloomfield and Hugh Rockoff challenge this textbook view? Are their points convincing?
April 23: Great Depression
April 30: A growing literature develops explanations for 'Europe's golden age' (the European economy's fast growth in the third quarter of the 20th century). Is this effort misguided? In other words, do we really need fancy explanations for a straightforward phenomenon that is easily explained in terms of convergence and delayed structural change?
May 7: The economic history of the world both in the post-WWII period 1945-1990 and, in broader perspective, over the past two centuries has been one in which the world has shrunken enormously in distance along every conceivable measurement, and yet in which income and productivity differences between societies have grown enormously. What, in your judgment, are the possible big-picture theories for explaining this phenomenon that are worth investigating?



David Hume
Adam Smith
Karl Marx (1849), Wage Labor and Capital”




Mar 10: Business Cycles
Frederic Mishkin (1991), “Asymmetric Information and Financial Crises: A Historical perspective,” in R. Glenn Hubbard (ed.), Financial Markets and Financial Crises, Chicago: University of Chicago Press, pp.69-108. On reserve at Haas.

Economics Learning Goals: CT2: Apply economic analysis to evaluate specific policy proposals. CT3: Compare two or more arguments that have different conclusions to a specific issue or problem. CT4: Understand the role of assumptions in arguments. QT1: Understand how to use empirical evidence to evaluate an economic argument. PS1: Solve problems that have clear solutions. PS2: Propose solutions for problems that do not have clear answers, and indicate under what conditions they may be viable solutions. CS1: Communicate effectively in written, spoken, and graphical form about specific economic issues. CS2: Formulate a well-organized written argument that states assumptions and hypotheses, which are supported by evidence. LL3: Understand and evaluate current economic events and new economic ideas.



How much of a difference does "good government"--that is, a government that cares about commerce and enforces contracts more-or-less honestly--appear to have made in the centuries before the industrial revolution in Britain?



Economics 210a: Fall 2006: Memo Question for November 1

ECONOMICS 210A: MEMO QUESTION FOR November 1: Agriculture and Forced Labor in Early Modern Growth
Adam Smith confidently predicted that slavery was on its way out for economic reasons. In commercial society, manumission would be the rule because the carrot of working for yourself is much more efficient than the stick of being whipped by others. Was Adam Smith right? If you conclude he was wrong, why was he wrong?

| Permalink

Econ 210a: Fall 2006: Agriculture and Forced Labor in Early Modern Growth: Recommended Readings

Recommended auxiliary readings:

Daron Acemoglu, Simon Johnson and James A. Robinson (2005), "The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth," American Economic Review http://econ-www.mit.edu/faculty/download_pdf.php?id=1181.
Robert Brenner (1977), "The Origins of Capitalist Development: A Critique of Neo-Smithian Marxism," New Left Review I/104 http://www.newleftreview.net/?page=article&view=185.
Paul David and Peter Temin (1976), "Slavery: The Progressive Institution?" in Paul David et. al., Reckoning with Slavery, chapter 5.
Robert Fogel and Stan Engerman (1974), Time on the Cross: The Economics of American Negro Slavery, chapters 1, 4, and 6.
David Galenson (1981), White Servitude in Colonial America, chapter 9.
Roger Ransom and Richard Sutch (1977), One Kind of Freedom: The Economic Consequences of Emancipation, chapters 2, 3, and 9.

Barbara L. Solow (1987), "Capitalism and Slavery in the Exceedingly Long Run," in B.L. Solow and S.L. Engerman (eds.), British Capitalism and Caribbean Slavery: The Legacy of Eric Williams (Cambridge University Press), pp. 51-77.



Economics 210a: Fall 2006: Readings, Revised Schedule

REVISED, MORE-FINAL SCHEDULE
Oct. 11. Organizational Meeting (Short) [DeLong]
Oct. 18. The Malthusian Economy [DeLong]
Oct. 25. Trade and the Industrious Revolution [DeLong]
Nov. 1. Agriculture and Forced Labor in Early Modern Growth [DeLong]
Nov. 8. Catch-Up Week [DeLong]
Nov. 15. The Industrial Revolution in Britain [Eichengreen]
  • Joel Mokyr, "Technological Change, 1700-1830," in Roderick Floud and Donald McCloskey eds., The Economic History of Britain Since 1700, Cambridge: Cambridge University Press, second edition, 1994, pp.12-43. On reserve at Haas.
  • N.F.R. Crafts, British Economic Growth During the Industrial Revolution, Oxford: Clarendon Press, 1986, pp.9-114 (read selectively). On reserve at Haas.
  • Maxine Berg and Pat Hudson, "Rehabilitating the Industrial Revolution," Economic History Review new ser. 45, pp.23-50. Available online: http://www.jstor.org/view/00130117/di011838/01p0208u/0
  • Peter Temin, "Two Views of the British Industrial Revolution," Journal of Economic History 57, pp.63-82. http://ideas.repec.org/p/nbr/nberhi/0081.html
  • Jeffrey Williamson, "Why Was British Economic Growth So Slow During the Industrial Revolution?" Journal of Economic History 44, pp.687-712http://www.jstor.org/view/00220507/di975668/97p1230f/0
Nov 22. American Exceptionalism [Eichengreen]
  • Paul David (1966), "The Mechanization of Reaping in the Ante-Bellum Midwest," in Henry Rosovsky (ed.), Industrialization in Two Systems, New York: Wiley, pp. 3-28, on reserve at Haas.
  • Peter Temin (1966), "Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s," Journal of Economic History 26, pp. 277-298http://www.jstor.org/view/00220507/di975596/97p0463m/0
  • Kenneth Sokoloff (1984), "Was the Transition from the Artisanal Shop to the Non-Mechanized Factory Associated with Gains in Efficiency?" Explorations in Economic History 21, pp.351-382. http://www.nber.org/papers/w1386
  • Robert Fogel (1962), "A Quantitative Approach to the Study of Railroads in American Economic Growth," Journal of Economic History 22, pp. 163-197,http://www.jstor.org/view/00220507/di975579/97p1266k/0
  • Alfred Chandler (1990), Scale and Scope, Cambridge: Harvard University Press, chapter 3, pp. 51-89, on reserve at Haas.
Nov. 29. The Spread of Industrialization [DeLong]
Dec 6. 19th Century Capital Markets [Eichengreen]
  • Alexander Gerschenkron (1964), Economic Backwardness in Historical Perspective, Cambridge, MA: Harvard University Press, chapter 1, pp. 5-30, on reserve at Haas.
  • Naomi Lamoreaux (1986), "Banks, Kinship, and Economic Development: The New England Case," Journal of Economic History 46, pp.647-667,http://www.jstor.org/view/00220507/di975676/97p04006/0
  • Hugh Rockoff (1974), "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking 6, pp. 141-167,http://www.jstor.org/view/00222879/di963065/96p0182b/0
  • Lance Davis (1965), "The Investment Market, 1870-1914: The Evolution of a National Market," Journal of Economic History 25, pp. 355-393,http://www.jstor.org/view/00220507/di975592/97p0351c/0
  • Howard Bodenhorn and Hugh Rockoff (1992), "Regional Interest Rates in Antebellum America," chapter 5 in Claudia Goldin and Hugh Rockoff (eds), Strategic Factors in 19th Century American Economic History, Chicago: University of Chicago Press, pp. 159-187, on reserve at Haas.
Jan 17. 19th Century Labor Markets [Eichengreen]
  • Sanford Jacoby (1984), "The Development of Internal Labor Markets in American Manufacturing Firms," in Paul Osterman (ed.), Internal Labor Markets, Cambridge, Mass.: MIT Press, pp. 23-69, on reserve at Haas.
  • Susan Carter and Elizabeth Savoca (1988), "Labor Mobility and Lengthy Jobs in 19th Century America," Journal of Economic History 50, pp. 1-16, < http://links.jstor.org/sici?sici=0022-0507%28199003%2950%3A1%3C1%3ALMALJI%3E2.0.CO%3B2-9 >
  • John James (1990), "Job Tenure in the Gilded Age," in George Grantham and Mary McKinnon, eds., Labour Market Evolution, London: Routledge, pp.185-204, on reserve at Haas.
  • Joshua Rosenbloom (1990), "One Market or Many? Labor Market Integration in the Late Nineteenth Century United States," Journal of Economic History 50, pp. 85-107, http://www.jstor.org/view/00220507/di975690/97p01544/0
  • Joshua Rosenbloom (2002), "Employment Agencies and Labor Exchanges: The Impact of Intermediaries in the Market for Labor," in Looking for Work, Searching for Workers: American Labor Markets during Industrialization (Cambridge, MA: Cambridge University Press), chapter 3, pp. 46-79, on reserve at Haas.
Jan. 24. The First Age of Globalization [Eichengreen]
  • Albert Fishlow (1985), (Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period,( International Organization 39, pp. 383-439, http://www.jstor.org/view/00208183/dm980251/98p00792/0
  • Douglas Irwin (1998), "Did Late Nineteen Century U.S. Tariffs Promote Infant Industries? Evidence from the Tinplate Industry," NBER Working paper no. 6835 (December), http://www.nber.org/papers/w6835
  • Arthur Bloomfield (1959), Monetary Policy Under the International Gold Standard, New York: Federal Reserve Bank of New York, on reserve at Haas.
  • Hugh Rockoff (1983), "Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices," in Michael Bordo and Anna Schwartz (eds), A Retrospective on the Classical Gold Standard, Chicago: University of Chicago Press, pp. 613-651, on reserve at Haas.
Jan. 31. The U.S. Depression [DeLong and Eichengreen]
Feb. 7. The World Depression [Eichengreen]
  • Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (New York: Oxford University Press), chapter 1, pp. 3-28, on reserve at Haas.
  • Ben Bernanke and Harold James, "The Gold Standard, Deflation and Financial Crisis in the Great Depression: An International Comparison," in Glenn Hubbard (ed), Financial Markets and Financial Crises, University of Chicago Press (1991), pp.33-68. On reserve at Haas.
  • Margaret Weir and Theda Skocpol, "State Structures and Social Keynesianism: Responses to the Great Depression in Sweden and the United States," International Journal of Comparative Sociology 19, pp.4-29. [web link here]
Feb. 14. The Post-World War II Golden Age [Eichengreen]
  • Peter Temin (2002), "The Golden Age of European Growth Reconsidered," European Review of Economic History 6, pp. 33-22.http://www.international.ucla.edu/cms/files/Temin.pdf
  • Mancur Olson (1996), "The Varieties of Eurosclerosis: The Rise and Decline of Nations Since 1982," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.73-94.
  • Barry Eichengreen, "Institutions and Economic Growth: Europe Since 1945," in Nicholas Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945, Cambridge, Cambridge University Press, pp.38-72.
Feb. 21. Combined and Uneven Development [DeLong]
Feb. 28. The Crisis of the Mixed Economy [DeLong]




Econ 210a: Fall 2006: Memo Question for November 8

Memo Question for November 8:
Adam Smith's 1776 Inquiry into the Nature and Causes of the Wealth of Nations is not what we would call a work of "economics." What kind of a book is it? Who do you think its intended audience is? Of what is Smith trying to persuade his audience? Which of the conclusions that Smith reaches--and of which he is trying to persuade his audience--would we think of today as conclusions of "economics"?






Hugh Rockoff (1983), "Some Evidence on the Real Price of Gold, Its Costs of Production, and Commodity Prices," in Michael Bordo and Anna Schwartz (eds), A Retrospective on the Classical Gold Standard, Chicago: University of Chicago Press, pp. 613-651, on reserve at Haas [REFERENCE]
Peter Temin (1966), "Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s," Journal of Economic History 26, pp. 277-298 <http://www.jstor.org/view/00220507/di975596/97p0463m/0>
Claudia Goldin and Kenneth Sokoloff (1984), "The Relative Productivity Hypothesis of Industrialization: The American Case, 1820-1850," Quarterly Journal of Economics 99 (August), pp. 461-87 http://links.jstor.org/sici?sici=0033-5533%28198408%2999%3A3%3C461%3ATRPHOI%3E2.0.CO%3B2-V
Kenneth Sokoloff (1984), ìWas the Transition from the Artisanal Shop to the Non-Mechanized Factory Associated with Gains in Efficiency?î Explorations in Economic History 21, pp.351-382. http://www.nber.org/papers/w1386
Richard Langlois (2003), “The Vanishing Hand: The Changing Dynamics of Industrial Capitalism,” Industrial and Corporate Change 12, pp.351-385.
Leslie Hannah (2008), “Logistics, Market Size, and Giant Plants in the Early Twentieth Century: A Global View,” Journal of Economic History 68, pp.46-79.
Caroline Fohlin (1999), “Universal Banking in Pre-World War I Germany: Model orMyth?” Explorations in Economic History 36, pp.305-343.http://www.sciencedirect.com/science?_ob=PublicationURL&_cdi=6796&_pubType=J&_acct=C000059607&_version=1&_urlVersion=0&_userid=4420&md5=993c9a8ceb7eea409609eccce5b92bb7&jchunk=36#36
Alexander Gerschenkron Economic Backwardness in Historical Perspective
J. Bradford DeLong, J.P. Morgan
Dale, Richard, Johannie Johnson and Leilei Tang (2005), “Financial Markets Can Go Mad: Evidence of Irrational Behavior During the South Sea Bubble,” Economic History Review LCIII, pp.233-271.
Hugh Rockoff (1974), “The Free Banking Era: A Reexamination,” Journal of Money, Credit and Banking 6, pp. 141-167, http://uclibs.org/PID/19138.
Calomiris, Charles (1990), “Is Deposit Insurance Necessary? A Historical Perspective,” Journal of Economic History L, pp.283-295.Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939 (New York: Oxford University Press), chapter 1, pp. 3-28, on reserve at Haas.
Albert Fishlow (1985), "Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period," International Organization 39, pp. 383-439, http://www.jstor.org/view/00208183/dm980251/98p00792/0



Memo Questions for 2007-2008:
The grading policy for memos will be:
14 memos. 2 points each. As follows:
0 - not handed in 1 - handed in, but could have been written without thinking about the reading 2 - reflects upon the reading 3 - teaches us professors something
Weekly pre-class memo questions
January 30: Was it in fact the case--as UCLA's Jared Diamond maintains-that the invention of agriculture was the worst mistake in the history of the human race? What can we say about the causes of the fact that in some human societies technological and organizational progress appears relatively slow and in others relatively fast? And is there a relationship between these two questions?
February 6: malthus
February 13: industrious revolution
February 20: Judging by the readings, how much of a difference does "good government"--that is, a government that cares about commerce and enforces contracts more-or-less honestly--appear to have made in the centuries before the industrial revolution in Britain?
February 27: early modern globalization
March 5: wars, colonies, et cetera
March 12: Maxine Berg and Pat Hudson write that the "historiography of the industrial revolution in England has moved away from viewing the late eighteenth and early nineteenth centuries as a unique turning point in economic and social development." Do you agree with their conclusion that the literature has moved too far in this direction? Why or why not?
In his article Voth cites the elegant dictum of D. N. McCloskey that "ingenuity rather than abstention governed the Industrial Revolution." By this McCloskey meant that technological change was more important than a rise in investment (and a corresponding decline in current consumption) in driving economic growth during the Industrial Revolution.
Voth concludes his article as follows: "Abstention seems to have been more important than invention [in bringing about the Industrial Revolution]but it was abstention from leisure ... that was at the core of economic growth."
Does Voth provide the evidence needed to persuade you that he is correct? Is his evidence convincing to Clark? What evidence would you deem necessary to make this case?

March 19:
April 2:
April 9: An influential literature cites the scarcity of labor as a key factor in the emergence of the "American System of Production." How much of this argument (if any) survives Peter Temin's 1966 critique?
April 16: Textbooks say that the gold standard had internal mechanisms that worked automatically to maintain both price and balance-of-payments stability. On what grounds do Arthur Bloomfield and Hugh Rockoff challenge this textbook view? Are their points convincing?
April 23: Great Depression
April 30: A growing literature develops explanations for 'Europe's golden age' (the European economy's fast growth in the third quarter of the 20th century). Is this effort misguided? In other words, do we really need fancy explanations for a straightforward phenomenon that is easily explained in terms of convergence and delayed structural change?
May 7: The economic history of the world both in the post-WWII period 1945-1990 and, in broader perspective, over the past two centuries has been one in which the world has shrunken enormously in distance along every conceivable measurement, and yet in which income and productivity differences between societies have grown enormously. What, in your judgment, are the possible big-picture theories for explaining this phenomenon that are worth investigating?



David Hume
Adam Smith
Karl Marx (1849), Wage Labor and Capital”

Mar 10: Business Cycles
Frederic Mishkin (1991), “Asymmetric Information and Financial Crises: A Historicalperspective,” in R. Glenn Hubbard (ed.), Financial Markets and Financial Crises,
Chicago: University of Chicago Press, pp.69-108. On reserve at Haas.