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Slow real wage growth during the Industrial Revolution: productivity paradox or pro-rich growth?
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Crafts, Nicholas (2022) Slow real wage growth during the Industrial Revolution: productivity paradox or pro-rich growth? Oxford Economic Papers, 74 (1). pp. 1-13. doi:10.1093/oep/gpab008 ISSN 0030-7653.
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Official URL: http://dx.doi.org/10.1093/oep/gpab008
Abstract
I examine the implications of technological change for productivity, real wages and factor shares during the industrial revolution using recently available data. This shows that real GDP per worker grew faster than real consumption earnings but labour’s share of national income changed little as real product wages grew at a similar rate to labour productivity in the medium term. The period saw modest total factor productivity growth which limited the growth both of real wages and of labour productivity. Economists looking for an historical example of rapid labour-saving technological progress having a seriously adverse impact on labour’s share must look elsewhere.
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor |
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| Divisions: | Faculty of Social Sciences > Economics | ||||||||
| Library of Congress Subject Headings (LCSH): | Industrial revolution , Labor productivity , Employees -- Effect of technological innovations on , Wages and labor productivity | ||||||||
| Journal or Publication Title: | Oxford Economic Papers | ||||||||
| Publisher: | Oxford University Press | ||||||||
| ISSN: | 0030-7653 | ||||||||
| Official Date: | January 2022 | ||||||||
| Dates: |
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| Volume: | 74 | ||||||||
| Number: | 1 | ||||||||
| Page Range: | pp. 1-13 | ||||||||
| DOI: | 10.1093/oep/gpab008 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | This is a pre-copyedited, author-produced version of an article accepted for publication in Oxford Economic Papers following peer review. The version of record 'Crafts, Nicholas (2021) Slow real wage growth during the Industrial Revolution: productivity paradox or pro-rich growth? Oxford Economic Papers . doi:10.1093/oep/gpab008 (in press)' is available online at: http://dx.doi.org/10.1093/oep/gpab008 doi:10.1093/oep/gpab008. | ||||||||
| Access rights to Published version: | Open Access (Creative Commons) | ||||||||
| Date of first compliant deposit: | 14 May 2021 | ||||||||
| Date of first compliant Open Access: | 20 February 2022 |
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