Pessimism Preserved: Real Wages in the British Industrial Revolution.
The paper compares Feinstein’s and Clark’s consumer price and real wage indices for the British industrial revolution. The sources for their weights and component price series are evaluated. While some of Clark’s innovations are improvements, many of his changes degrade the price index. A new price...
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| Format: | Working paper |
| Language: | English |
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Department of Economics (University of Oxford)
2007
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| _version_ | 1826260696122261504 |
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| author | Allen, R |
| author_facet | Allen, R |
| author_sort | Allen, R |
| collection | OXFORD |
| description | The paper compares Feinstein’s and Clark’s consumer price and real wage indices for the British industrial revolution. The sources for their weights and component price series are evaluated. While some of Clark’s innovations are improvements, many of his changes degrade the price index. A new price index is developed using the best components of Clark’s and Feinstein’s. This index is much closer to Feinstein’s than to Clark’s. The implied growth in real wages is also close to Feinstein’s and contradicts Clark’s ‘optimistic’ view of rising working class living standards during the industrial revolution. |
| first_indexed | 2024-03-06T19:09:47Z |
| format | Working paper |
| id | oxford-uuid:1660bc3a-01c9-4560-9054-f2e57d119e50 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:09:47Z |
| publishDate | 2007 |
| publisher | Department of Economics (University of Oxford) |
| record_format | dspace |
| spelling | oxford-uuid:1660bc3a-01c9-4560-9054-f2e57d119e502022-03-26T10:31:00ZPessimism Preserved: Real Wages in the British Industrial Revolution.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:1660bc3a-01c9-4560-9054-f2e57d119e50EnglishOxford University Research Archive - ValetDepartment of Economics (University of Oxford)2007Allen, RThe paper compares Feinstein’s and Clark’s consumer price and real wage indices for the British industrial revolution. The sources for their weights and component price series are evaluated. While some of Clark’s innovations are improvements, many of his changes degrade the price index. A new price index is developed using the best components of Clark’s and Feinstein’s. This index is much closer to Feinstein’s than to Clark’s. The implied growth in real wages is also close to Feinstein’s and contradicts Clark’s ‘optimistic’ view of rising working class living standards during the industrial revolution. |
| spellingShingle | Allen, R Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title | Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title_full | Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title_fullStr | Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title_full_unstemmed | Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title_short | Pessimism Preserved: Real Wages in the British Industrial Revolution. |
| title_sort | pessimism preserved real wages in the british industrial revolution |
| work_keys_str_mv | AT allenr pessimismpreservedrealwagesinthebritishindustrialrevolution |