Labor force participation rates for American men sixty and over are estimated for the period 1870 through 1937. They suggest a higher frequency of retirement and quite different trends in the incidence of retirement than have usually been supposed. Evidence is also presented to establish that many older industrial workers changed to less renumerative and less demanding occupations late in their working life. This “on-the-job retirement” may have made the transition from employment to full retirement less sudden than today.

If employers make so much money, why don't workers hire machines and expertise and make the money instead? This question has generated a large body of writing, including Stephen Marglin's much-cited article “What Do Bosses Do?” Marglin draws on history to argue that the employer, who added nothing to technical efficiency, used specialization of tasks to divide labor and impose himself as boss, thereby creating an artificial, unproductive role. These arrangements were embodied in domestic industry and were reinforced when employers turned to the factory system as a more effective disciplinary mode. This article argues that such a thesis misreads history and is essentially ideological.

The introduction of segregation laws for municipal streetcars is examined. The economics of private and public segregation is analyzed first, taking note of the particular features of the streetcar industry, followed by a discussion of the contemporary debates on streetcar segregation laws in a number of southern cities. The evidence presented suggests that segregation laws were binding constraints and not simply the codification of customary practice. Furthermore, the streetcar companies were not the initiators of segregation and sometimes actively resisted it. These findings are related to several major interpretations of the origins of segregation.

This paper examines several recent arguments about the role of slavery in the settling of the New World, the viability of slavery as an economic institution in the nineteenth century, and the causes and consequences of slave emancipation in the Americas. Comparisons are made between the analysis of slavery and that of other labor institutions, such as serfdom and free labor.

Between 1236 and 1240 the king's estate steward Walter de Burgo improved the productivity of about forty royal manors by systematically increasing agricultural investment to levels four to five times the medieval average. On estates where he managed the inland directly, de Burgo improved the quality of the draft animals and spent large sums on marling, smother crops, and on the purchase of foreign seed. Within four years he raised the net value of these manors 70 percent, thus demonstrating the direct link which could exist between investment levels and productivity in medieval agriculture.

Loan repudiations and property confiscations were common between medieval kings and individuals. Traditional accounts of these confiscations focus on factors affecting the kings, ignoring the motivations of the victims. This deficiency may be remedied by considering the problems faced on both sides of any agreement between a king and a group of citizens. A model is presented which explains the timing and the form of repudiations and confiscations without resorting to an assumption of irrationality by either party. It is general enough to address a persistent problem in the property rights view of government: How can an individual protect himself from abuses by his protector?

The paper examines in detail revised estimates of unemployment and gross national product for the United States before 1929. It first discusses the nature of the revisions to each series and contrasts the assumptions underlying the new data with those underlying the Kuznets GNP series and the Lebergott unemployment rate series. It then examines the business cycle properties of the new prewar estimates. In analyzes the volatility and serial correlation properities of the new macroeconomic series and investigates the Okun's Law relationship between unemployment and GNP, concluding with an evaluation of the assumptions underlying the old and new data.

This article presents an analysis of empirical research on the course of agricultural prices and wages in Maryland over the century 1750 to 1850. An attempt has been made to present the data in a form comparable to other studies for other regions. In addition to the long-term movement of price and wage series the paper focuses on the use of these data to draw inferences on changes in the standard of living and productivity growth.

Early banks in New England functioned not as commercial banks in the modern sense but as the financial arms of extended kinship networks. These groups used banks to raise capital for their diversified enterprises and give their operations a stable institutional base. Because entry into banking was essentially free, favoritism in credit markets—the usual affliction of such a system—seems to have been unimportant. Instead, the economy as a whole benefited from the ease with which capital could be mobilized for industrial development.

Between 1550 and 1730, privileged investors in France—nobles, officers, and wealthy merchants—bought up enormous quantities of land from peasants. The transfer of property has attracted considerable attention from historians, but it has never been satisfactorily explained. The paper invokes the tax exemptions the privileged enjoyed to account for the transfer—an explanation that fits both the chronology of the land sales and the identity of the purchasers. The paper then examines how the tax system throttled growth in the agricultural sector.

The question at issue is whether estimates of GNP and unemployment before 1930 exaggerate cyclical volatility enough to produce a false impression of increasing economic stability over the twentieth century. Based on research to be reported in detail at a later date, the answer is no. The range of possible exaggerations is small relative to the observed change.

This paper describes the geographical pattern of wages in Britain between 1760 and 1914. It then draws out some of the implications of the wages pattern and considers, in particular, the implications for the “growth pole” debate on the likely effect of industrialization upon regional income inequalities. The market forces responsible for creating and maintaining these differentials are then described, followed by a final section which discsusses the significance of changing regional wage differentials to the standar-of-living debate. It concludes that from a regional perspective the overall effects of industrialization upon living standards are indisputably favorable.

We examine bargaining between the Northwest Company and the Hudson's Bay Company using recent models of bargaining under incomplete information. Two previously undisturbed bodies of correspondence are analyzed: letters between the two companies and letters between the Hudson's Bay Company and its London committee. Through merger the companies achieved a joint maximum, but the lengthy and costly bargaining process dissipated much of the potential gain through depletion of animal stocks. Achievement of a joint maximum was hindered by incomplete information, commitment to a strategy which led to bargaining breakdowns, delineation of each party's rights under law, and environmental changes.

The journals of slave ship surgeons of the 1790s are used to address questions on the relative importance of African conditions versus those on ships, crowding, the effectiveness of Dolben's Act, and the interaction between slave and crew health. In contrast with previous work we find that most slaves who died did so near the middle of the voyage. Crowding was important to health and mortality, but the restrictions of Dolben's Act did little to reduce losses. The crew was largely isolated from patterns of disease among slaves.

This paper is concerned with the relative efficiency of farming in open fields or enclosures in England. It uses surveys covering the acreage, yield, and output of the principal grain crops for the period 1795–1801, initially concentrating in some detail on selected but widely distributed English counties before concluding with a section which summarizes the data for England. Efficiency meant improvements in per unit acre yields and in total parish output. But it also had important implications for total agricultural productivity because the land which was saved by improved farming in enclosures was used to promote a better balance between arable and animal farming.

Despite hundreds of studies of the influence of economic interests on the formation of the U.S. Constitution, no consensus has been reached. Our study of the Constitutional Convention differs from previous ones by offering an explicit theoretical model of delegates' voting behavior and employing multivariate statistical techniques. We extend our earlier work by analyzing new information on constituents' economic interests and ideology. Further our econometric results on individual roll-call votes strongly suggest delegates who owned slaves or represented slaveowning constituents were more likely to oppose issues favoring a national form of government.

In Lancashire cotton spinning in the heyday of laissez-faire capitalism the labor market did not operate as an auction market. Evidence on piece-rate flexibility, length of tenure, and seniority is consistent with Okun's contract approach. Both workers and firms incurred initial set-up costs. Workers wanted to protect their initial investments in training, and firms, faced with a labor supply that varied in reliability and regularity, had a desire to cover initial hiring and tryout costs. The need to maintain long-term attachments had implications for wage and employment adjustment and the age structure of the labor force.

National, state, and individual-level data are used to explore the implications of the crowding of educated women into the teaching profession in nineteenth-century America. It is found that the more young women attended school, the lower were teacher wages and the price of educational services. Through this mechanism young women paid for their own education and, by lowering the price of educational services, helped America develop the best-educated population in the world by the century's end.

The Irish immigrations during the First Industrial Revolution serve to complicate any assessment of Britain's economic performance up to the 1850s. This paper estimates the size of the Irish immigrations and explores its impact on real wages, rural-urban migration, and industrialization. Using a general equilibrium model, the paper finds that the Irish did not play a significant role in accounting for rising inequality, lagging real wages, or rapid industrialization.