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 inde...
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| Format: | Working paper |
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University of Oxford
2007
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| _version_ | 1797105034324869120 |
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| author | Allen, R Allen, R |
| author_facet | Allen, R 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 | 2024-03-07T06:41:47Z |
| format | Working paper |
| id | oxford-uuid:f9877c12-e250-4181-b8d5-31fb2e0c7d40 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T06:41:47Z |
| publishDate | 2007 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:f9877c12-e250-4181-b8d5-31fb2e0c7d402022-03-27T12:58:37ZPessimism preserved: real wages in the British Industrial RevolutionWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:f9877c12-e250-4181-b8d5-31fb2e0c7d40Bulk import via SwordSymplectic ElementsUniversity of Oxford2007Allen, RAllen, 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 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 AT allenr pessimismpreservedrealwagesinthebritishindustrialrevolution |