In 1900 bovine tuberculosis was a serious and growing threat to animal and human health. Early private and state initiatives in the United States often increased the incentives for the interstate trade of diseased stock. One unscrupulous dealer exposed thousands of dairy herds and families to the disease. Our study helps explain the expanding federal role in regulating food safety. In this case regulations arose from genuine health concerns. Before the development of strict regulations, diagnostic innovations that could have helped prevent the spread of the disease actually made the operation of markets worse by aggravating asymmetric information problems.

This article constructs new measures of worktime for Europe, North America, and Australia, 1870–1913. Great Britain began with the shortest work year and Belgium the longest. By 1913 certain continental countries approached British worktimes, and, consistent with recent findings on real wages, annual hours in Old and New Worlds had converged. Although globalization did not lead to a race to the bottom of worktimes, there is only partial evidence of a race to the top. National work routines, the outcome of different legal, labor, and political histories, mediated relations between hours and income.

In April 1906 the San Francisco earthquake and fire caused damage equal to more than 1 percent of GNP. Although the real effect of this shock was localized, it had an international financial impact: large amounts of gold flowed into the country in autumn 1906 as foreign insurers paid claims on their San Francisco policies out of home funds. This outflow prompted the Bank of England to discriminate against American finance bills and, along with other European central banks, to raise interest rates. These policies pushed the United States into recession and set the stage for the Panic of 1907.

San Francisco's $200,000,000 “ash heap” involves complications which will be felt on all financial markets for many months to come [and] the payment of losses sustained … represents a financial undertaking of far-reaching magnitude….The Financial Times [London], 6 July 1906

I use rice prices in three cities to analyze the efficiency of the marketing system and the institutional framework of Javanese agriculture, 1823–1853. I show that imperfections in rural capital markets caused the extreme fluctuations in rice prices and that the segmentation of the capital market modifies the McCloskey and Nash interpretation of the relationship between seasonal fluctuations of grain (or rice) prices and interest rates. I argue that these fluctuations proxy peasants' stress. Finally, I hypothesize that institutional and market failures explain the “noneconomic” behavior of Javanese peasants in Boeke's theory of dualistic economic development.

Untreated syphilis explained one-third of the higher prematurity rates of black relative to white babies born at Johns Hopkins in the early twentieth century. Differences in prematurity rates explained 41 percent of the black-white stillbirth gap and one-quarter of the black-white birth weight gap. Black babies had lower mortality and higher weight gain than white babies during the first ten days of life spent in the hospital because of higher black breast-feeding rates. Historically low birth weights may have a long reach: in 1988 maternal birth weight accounted for 5–8 percent of the gap in black-white birth weights.

All sovereign governments face a commitment problem: how can they promise to honor their own agreements? The standard solutions involve reputation or political institutions capable of tying the government's hands. Mexico's government in the 1880s used neither solution. It compensated its creditors by enabling them to extract rents from the rest of the economy. These rents came through special privileges over banking services and the right to administer federal taxes. Returns were extremely high: as long as the government refrained from confiscating all their assets (let alone repaying their debts) less than twice a decade, they would break even.

Monetary historians have contended that Free Silver advocates were inflationists seeking debt reduction. We offer an alternative interpretation using a theory of money demand with differential returns on nominal units and a nonoptimum nominal money stock. Our explanation is more logically appealing and more consistent with contemporary evidence. The restrictive coinage laws of the period produced chronic shortages, and our empirical analysis provides clear evidence of these shortages. A shortage of coins valued at a half-day's wage and less, raised transactions costs, produced hardship and spawned protest.