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World Demand for Cotton during the Nineteenth Century: Reply

Published online by Cambridge University Press:  11 May 2010

Gavin Wright
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Extract

Since writing “Cotton Competition,“ I have many times wished that I had never included the paragraph joining pages 632 and 633, since figures that were intended as no more than back-of-the-envelope confirmation of the econometric results have been cited as the central conclusions of the study. To make matters worse, the demand-shift formula was incorrectly applied, most seriously in the exaggerated decline in demand for American cotton between 1860 and 1870. For these reasons I am grateful to John Hanson for making these corrections and for giving me an opportunity to disown this particular halfdozen numbers.

Type
Notes and Discussion
Information
The Journal of Economic History , Volume 39 , Issue 4 , December 1979 , pp. 1023 - 1024
Copyright
Copyright © The Economic History Association 1979

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References

1 For example, in Goldin, Claudia, Urban Slavery in the American South 1820–1860 (Chicago, 1976), p. 151Google Scholar.

2 The Political Economy of the Cotton South (New York, 1978), pp. 91–95, 100Google ScholarPubMed.

3 A theoretical basis for this conclusion was presented in the original article. See “Cotton Competition,” 630.