Capital accumulation, technological change, and the distribution of income during the British Industrial Revolution
The paper reviews the macroeconomic data describing the British economy during the industrial revolution and shows that they contain a story of dramatically increasing inequality between 1800 and 1840: GDP per worker rose 37%, real wages stagnated, and the profit rate doubled. The share of profits i...
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| Format: | Working paper |
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University of Oxford
2005
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