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Economic History

Graduate · Historical course

Spring 2009

Topics

  • Introduction
  • Industrialization
  • Institutions
  • Land institutions
  • Technology institutions
  • Financial institutions
  • Student presentations 1
  • Stock market regulation and student presentations
  • Financial crises
  • Labor topics
  • Migration
  • Recovery after shocks
  • Wages and inequality
  • Discrimination
  • Demographic transition
  • Intergenerational mobility
  • Health
  • Student presentations 2

Readings

  • Freedman, David. “Statistical Models and Shoe Leather.” Sociological Methodology 21 (1991): 291-313.
    Listed reading
  • Laslett, Peter. The World We Have Lost: Further Explored . 3rd ed. New York, NY: Cambridge University Press, 1983, pp. 81-105, chapter 4. Reprint, New York, NY: Routledge, 1989. ISBN: 9780415029759.
    Listed reading
  • Ogilvie, Sheilagh. “The Economic World of the Bohemian Serf: Economic Concepts, Preferences, and Constraints on the Estate of Friedland, 1583-1692.” The Economic History Review 54, no. 3 (2001): 430-453.
    Listed reading
  • Romer, Paul. “Why, Indeed, in America? Theory, History, and the Origins of Modern Economic Growth.” American Economic Review 86, no. 2 (May 1996): 202-206.
    Listed reading
  • Ashton, T. S. The Industrial Revolution, 1760-1830 . London, United Kingdom: Oxford University Press, 1948. Reprinted with a preface and bibliography by Pat Hudson. New York, NY: Oxford University Press, 1998. ISBN: 9780192892898.
    Listed reading
  • Allen, Robert C. “The British Industrial Revolution in Global Perspective.” Presented at the National Bureau of Economic Research conference on Starting Economic Growth, June 1-2, 2006.
    Listed reading
  • Goldin, Claudia, and Kenneth Sokoloff. “Women, Children, and Industrialization in the Early Republic: Evidence from the Manufacturing Census.” Journal of Economic History 42 (December 1982): 741-774.
    Listed reading
  • ———. “The Relative Productivity Hypothesis of Industrialization: The American Case, 1820 to 1850.” Quarterly Journal of Economics 99 (August 1984): 461-487.
    Listed reading
  • Gerschenkron, Alexander. Economic Backwardness in Historical Perspective . Cambridge, MA: Harvard University Press, 1962, pp. 5-30, chapter 1. ISBN: 9780674226005.
    Listed reading
  • Murphy, Kevin, Andrei Sheilfer, and Robert Vishny. “Industrialization and the Big Push.” Journal of Political Economy 97, no. 5 (1989): 1003-1026.
    Listed reading
  • Ray, Debraj. Development Economics . Princeton, NJ: Princeton University Press, 1998, chapter 5. ISBN: 9780691017068.
    Listed reading
  • 5 · Mokyr, Joel. The Lever of Riches: Technological Creativity and Economic Progress . New York, NY: Oxford University Press, 1992, chapters 1, 7, 8, 9, and 10. ISBN: 9780195074772.
    Listed reading
  • Pomeranz, Kenneth. The Great Divergence: China, Europe, and the Making of the Modern World Economy . Revised ed. Princeton, NJ: Princeton University Press, 2001, introduction. ISBN: 9780691090108.
    Listed reading
  • Broadberry, Stephen, and Bishnupriya Gupta. “The Early Modern Great Divergence: Wages, Prices, and Economic Development in Europe and Asia, 1500-1800.” Economic History Review 59 (February 2006): 2-31.
    Listed reading
  • Flath, David. The Japanese Economy . 2nd ed. New York, NY: Oxford University Press, 2005, pp. 21-42, chapter 2. ISBN: 9780199278619.
    Listed reading
  • North, Douglass C., and Barry R. Weingast. “Constitutions and Commitment: Evolution of Institutions Governing Public Choice in Seventeenth Century England.” Journal of Economic History 49 (1989): 803-832.
    Listed reading
  • Temin, Peter. “Free Land and Federalism: A Synoptic View of American Economic History.” Journal of Interdisciplinary History 21 (1991): 371-389.
    Listed reading
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  • Acemoglu, Daron, Simon Johnson, and James A. Robinson. “The Colonial Origins of Comparative Development: An Empirical Investigation.” American Economic Review 91 (2001): 1369-1401.
    Listed reading
  • Nunn, Nathan. “The Long-run Effects of Africa’s Slave Trades.” Quarterly Journal of Economics 123, no. 1 (2008): 139-176.
    Listed reading
  • Acemoglu, Daron, Simon Johnson, and James Robinson. “The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth.” American Economic Review 95 (2005): 546-579.
    Listed reading
  • Acemoglu, Daron, and Simon Johnson. “Unbundling Institutions.” Journal of Political Economy 113 (2005): 949-995.
    Listed reading
  • Banerjee, Abhijit, and Lakshmi Iyer. “History, Institutions and Economic Performance: The Legacy of Colonial Land Tenure Systems in India.” American Economic Review 95 (2005): 1190-1213.
    Listed reading
  • Hornbeck, Richard. “Good Fences Make Good Neighbors: Evidence on the Effects of Property Rights.” Mimeograph, Department of Economics, Massachusetts Institute of Technology, 2008.
    Listed reading
  • Moser, Petra. “How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World’s Fairs.” American Economic Review 95 (September 2005): 1214-1236.
    Listed reading
  • Listed reading
  • Greif, Avner. “Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders’ Coalition.” American Economic Review 83 (1994): 525-548.
    Listed reading
  • Greif, Avner, Paul Milgrom, and Barry Weingast. “Coordination, Commitment and Enforcement: The Case of the Merchant Guild.” Journal of Political Economy 102 (1994): 912-950.
    Listed reading
  • Neal, Larry, and Stephen Quinn. “Networks of Information, Markets, and Institutions in the Rise of London as a Financial Centre, 1660-1720.” Financial History Review 8 (April 2001): 7-26.
    Listed reading
  • Listed reading
  • Benston, George. “Required Disclosure and the Stock Market: An Evaluation of the Securities Exchange Act of 1934.” American Economic Review 63 (March 1973): 132-155.
    Listed reading
  • Calomiris, Charles W., and Joseph R. Mason. “Consequences of Bank Distress during the Great Depression.” American Economic Review 93, no. 3 (June 2003): 937-947.
    Listed reading
  • ———. “Fundamentals, Panics, and Bank Distress during the Depression.” American Economic Review 93, no. 5 (December 2003): 1615-1647.
    Listed reading
  • Bernanke, Ben S. “Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression.” American Economic Review 73, no. 3 (June 1983): 257-276.
    Listed reading
  • Acemolgu, D., D. Autor, and D. Lyle. “Women, War, and Wages: The Effect of Female Labor Supply on the Wage Structure at Midcentury.” Journal of Political Economy 112, no. 3 (June 2004): 497-551.
    Listed reading
  • Listed reading
  • Costa, Dora. “Pensions and Retirement: Evidence from Union Army Veterans.” Quarterly Journal of Economics 110, no. 2 (May 1995): 297-320.
    Listed reading
  • Angrist, J. “Lifetime Earnings and the Vietnam Era Draft Lottery: Evidence from Social Security Administrative Records.” American Economic Review 80, no. 3 (June 1990): 313-336.
    Listed reading
  • Carrington, William J. “The Alaskan Labor Market during the Pipeline Era.” Journal of Political Economy 104, no. 1 (1996): 186-218.
    Listed reading
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  • Listed reading
  • Williamson, Jeffrey. “Migration and Urbanization.” In Handbook of Development Economics . Vol. 1. Edited by Hollis Chenery and T. N. Srinivasan. Amsterdam, The Netherlands: North Holland, 1988. ISBN: 9780444703378.
    Listed reading
  • Listed reading
  • Hornbeck, Richard. “Quantifying Long-term Adjustment to Environmental Change: Evidence from the American Dust Bowl.” Mimeograph, Massachusetts Institute of Technology, 2008.
    Listed reading
  • Redding, Stephen J., and Daniel M. Sturm. “The Costs of Remoteness: Evidence from German Division and Reunification.” American Economic Review 98, no. 5 (December 2008): 1766-1797.
    Listed reading
  • Costa, Dora L. “The Wage and the Length of the Work Day: From the 1890s to 1991.” Journal of Labor Economics 18 (January 2000): 156-181.
    Listed reading
  • Goldin, Claudia, and Robert A. Margo. “The Great Compression: The U.S. Wage Structure at Mid-Century.” Quarterly Journal of Economics 107, no. 1 (February 1992): 1-34.
    Listed reading
  • Goldin, Claudia, and Lawrence F. Katz. “Decreasing (and Then Increasing) Inequality in America.” Chapter 2 in The Causes and Consequences of Increasing Inequality . Edited by Finis Welch. Chicago, IL: University of Chicago Press, 2001, pp. 37-82. ISBN: 9780226893013.
    Listed reading
  • Goldin, Claudia. “Preface,” “Women’s Experience in the American Economy,” and “The Emergence of ‘Wage Discrimination’.” Preface and Chapters 1 and 4 in Understanding the Gender Gap: An Economic History of American Women . New York, NY: Oxford University Press, 1992, pp. 3-9 and 83-118. ISBN: 9780195072709.
    Listed reading
  • Acemoglu, Daron, and Joshua Angrist. “Consequences of Employment Protection? The Case of the Americans With Disabilities Act.” Journal of Political Economy 109 (2001): 915-957.
    Listed reading
  • Heckman, James J. “Determining the Impact of Federal Antidiscrimination Policy on the Economic Status of Blacks: A Study of South Carolina.” American Economic Review 79 (March 1989): 138-177.
    Listed reading
  • Listed reading
  • Galor, Oded, and David Weil. “Population, Technology, and Growth: From the Malthusian Regime to the Demographic Transition.” American Economic Review 90 (September 2000): 806-828.
    Listed reading
  • Boyer, George. “Malthus Was Right After All: Poor Relief and Birth Rates in Southeastern England.” Journal of Political Economy 97 (February 1989): 93-114.
    Listed reading
  • Becker, G., and H. G. Lewis. “On the Interaction Between the Quantity and Quality of Children.” Journal of Political Economy 81, no. 2, part 2 (March-April 1973): S279-S288.
    Listed reading
  • Sacerdote, Bruce. “Slavery and the Intergenerational Transmission of Human Capital.” Review of Economics and Statistics 87 (May 2005): 217-234.
    Listed reading
  • Solon, Gary. “Intergenerational Income Mobility in the United States.” American Economic Review 82, no. 3 (June 1992): 393-408.
    Listed reading
  • Becker, Gary, and Nigel Tomes. “Human Capital and the Rise and Fall of Families.” Journal of Labor Economics 4 (1986): S1-S39.
    Listed reading
  • Almond, Douglas. “Is the 1918 Influenza Pandemic Over? Long-term Effects of In Utero Influenza Exposure in the Post-1940 U.S. Population.” Journal of Political Economy 114, no. 4 (August 2006): 672-712.
    Listed reading
  • Listed reading
  • Cutler, David, and Grant Miller. “Water, Water Everywhere: Municipal Finance and Water Supply in American Cities.” Chapter 5 in Corruption and Reform: Lessons from America’s Economic History . Edited by Edward L. Glaeser and Claudia Goldin. Chicago, IL: University of Chicago Press, 2008, pp. 153-86. ISBN: 9780226299587.
    Listed reading
Fall 2006

This course offers a comprehensive survey of world economic history, designed to introduce economics graduate students to the subject matter and methodology of economic history. Topics are chosen to show a wide variety of historical experience and illuminate the process of industrialization. A final term paper is due at the end of the course.

Readings

  • LEC #: 1 · TOPICS: Ancient Rome · READINGS: Temin, Peter. “The Economy of the Early Roman Empire.” Journal of Economic Perspectives (Winter 2006): 133-51.
    Reading assignment
  • Allen, Robert C. “The Great Divergence in European Wages and Prices from the Middle Ages to the First World War.” Explorations in Economic History 38 (October 2001): 411-47.
    Listed reading
  • Greif, Avner, Paul Milgrom, and Barry R. Weingast. “Coordination, Commitment, and Enforcement: The Case of the Merchant Guild.” Journal of Political Economy 102 (August 1994): 745-76.
    Listed reading
  • Diamond, Jared. Guns, Germs and Steel: The Fate of Human Societies . New York, NY: W.W. Norton and Co., 1997, chapter 18, pp. 354-75. ISBN: 0393038912.
    Listed reading
  • Acemoglu, Daron, Simon Johnson, and James A. Robinson. “The Colonial Origins of Comparative Development: An Empirical Investigation.” American Economic Review 91 (December 2001): 1369-1401.
    Listed reading
  • Laslett, Peter. The World We Have Lost: Further Explored . 3rd ed. London, UK: Menthuen, 1983, chapters 4-5, pp. 81-121. ISBN: 0416353401.
    Listed reading
  • Lee, Ronald. “An Historical Perspective on Economic Aspects of the Population Explosion.” In Population and Economic Change in Developing Countries . Edited by Richard Easterlin. Chicago, IL: University of Chicago Press, 1980, pp. 517-557. ISBN: 0226180263.
    Listed reading
  • Chiang, Chin Long. “The Life table and its construction.” In Introduction to Stochastic Processes in Biostatistics . New York, NY: John Wiley, 1968, chapter 9, pp. 189-217.
    Listed reading
  • Boyer, George. “Malthus Was Right After All: Poor Relief and Birth Rates in Southeastern England.” Journal of Political Economy 97 (February 1989): 93-114.
    Listed reading
  • Crafts, N. F. R. “Some Dimensions of the ‘Quality of Life’ during the British Industrial Revolution.” Economic History Review 50 (November 1997): 617-39.
    Listed reading
  • Fogel, Robert W., and Dora L. Costa. “A Theory of Technophysio Evolution, with some Implications for Forecasting Population, Health Care Costs, and Pension Costs.” Demography 34 (February 1997): 49-66.
    Listed reading
  • North, Doughlas C., and Barry R. Weingast. “Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England.” Journal of Economic History 49 (December 1989): 803-832.
    Listed reading
  • Neal, Larry, and Stephen Quinn. “Networks of Information, Markets, and Institutions in the Rise of London as a Financial Centre, 1660-1720.” Financial History Review 8 (April 2001): 7-26.
    Listed reading
  • Brunt, Liam. “Rediscovering Risk: Country Banks as Venture Capital Firms in the First Industrial Revolution.” Journal of Economic History 66 (March 2006): 74-102.
    Listed reading
  • LEC #: 7 · TOPICS: The Industrial Revolution: Description · READINGS: Ashton, T. S. The Industrial Revolution, 1760-1830 . London, UK: Oxford University Press, 1948. ISBN: B000E6903S.
    Reading assignment
  • Temin, Peter, and Hans-Joachim Voth. “Credit Rationing and Crowding Out during the Industrial Revolution: Evidence from Hoare’s Bank, 1702-1862.” Explorations in Economic History 42 (July 2005): 325-48.
    Listed reading
  • Voth, Hans-Joachim. “Time and Work in Eighteenth-Century London.” Journal of Economic History 58 (March 1998): 29-58.
    Listed reading
  • Gerschenkron, Alexander. Economic Backwardness in Historical Perspective: Essays by Alexander Gerschenkron . Cambridge, MA: Harvard University Press, 1962, chapter 1, pp. 5-30. ISBN: 0674226003.
    Listed reading
  • Moser, Petra. “How Do Patent Laws Influence Innovation? Evidence from Nineteenth-Century World’s Fairs.” American Economic Review 95 (September 2005): 1214-36.
    Listed reading
  • O’Rourke, Kevin H. “The European Grain Invasion, 1870-1913.” Journal of Economic History 57 (December 1997): 775-801.
    Listed reading
  • Berger, Helge, and Mark Spoerer. “Economic Crises and the European Revolutions of 1848.” Journal of Economic History 61 (June 2001): 293-326.
    Listed reading
  • Putnam, Robert D., Robert Leonardi, and Raffaella Nanetti. Making Democracy Work: Civic Traditions in Modern Italy . Princeton, NJ: Princeton University Press, 1993, chapter 5, pp. 121-62. ISBN: 0691078890.
    Listed reading
  • Toniolo, Gianni, Leandro Conte, and Giovanni Vecchi. “Monetary Union, Institutions and Financial Market Integration.” Explorations in Economic History 40 (October 2003): 443-61.
    Listed reading
  • LEC #: 11 · TOPICS: Africa · READINGS: Feinstein, Charles H. An Economic History of South Africa: Conquest, Discrimination, and Development . Cambridge, UK: Cambridge University Press, 2005, chapters 3-4, pp. 47-89. ISBN. 0521850916.
    Reading assignment
  • Pamuk, Sevket. “Estimating Economic Growth in the Middle East since 1820.” Journal of Economic History . (Forthcoming, September 2006.)
    Listed reading
  • Allen, Robert C. Farm to Factory: A Reinterpretation of the Soviet Industrial Revolution . Princeton, NJ: Princeton University Press, 2003, chapters 1-2, pp. 1-46. ISBN: 0691006962.
    Listed reading
  • Johnson, Simon, and Peter Temin. “The Macroeconomics of NEP.” Economic History Review 46 (November 1993): 750-767.
    Listed reading
  • Broadberry, Stephen, and Bishnupriya Gupta. “The Early Modern Great Divergence: Wages, Prices, and Economic Development in Europe and Asia, 1500-1800.” Economic History Review 59 (February 2006): 2-31.
    Listed reading
  • Miron, Jeffrey A., and Chris Feige. “The Opium Wars, Opium Legislation, and Opium Consumption in China.” Discussion Paper No. 2072. Cambridge, MA: Harvard Institute of Economics Research, May 2005.
    Listed reading
  • Richardson, Philip. Economic Change in China, c. 1800-1950 . Cambridge, UK: Cambridge University Press, 1999, chapters 2, 4, and 7, pp. 16-24, 40-53, and 84-97. ISBN: 0521583969.
    Listed reading
  • Flath, David. The Japanese Economy . New York, NY: Oxford University Press, 2000, chapter 2, pp. 21-42. ISBN: 0198775040.
    Listed reading
  • Bernhofen, Daniel M., and John C. Brown. “An Empirical Assessment of the Comparative Advantage Gains from Trade: Evidence from Japan.” American Economic Review 95 (March 2005): 208-25.
    Listed reading
  • Engerman, Stanley L., and Kenneth L. Sokoloff. “Factor Endowments, Institutions, and Differential Paths of Growth Among New World Economies: A View from Economic Historians of the United States.” In How Latin America Fell Behind: Essays on the Economic Histories of Brazil and Mexico, 1800-1914 . Edited by Stephen Haber. Stanford, CA: Stanford University Press, 1997, pp. 260-304. ISBN: 0804727376.
    Listed reading
  • Frank, Zephyr L. “Exports and Inequality: Evidence from the Brazilian Frontier, 1870-1937.” Journal of Economic History 61 (March 2001): 37-58.
    Listed reading
  • Haber, Stephen. “Mexico Before 1982: The Political Economy of Authoritarian Rule.” In The Second Mexican Revolution: Politics, Economics and Society Since 1982 . Edited by Stephen Haber, et al. (Forthcoming.)
    Listed reading
  • Irwin, Douglas A. “The Aftermath of Hamilton’s ‘Report on Manufactures’.” Journal of Economic History 64 (September 2004): 800-21.
    Listed reading
  • Goldin, Claudia, and Kenneth Sokoloff. “Women, Children, and Industrialization in the Early Republic: Evidence from the Manufacturing Census.” Journal of Economic History 42 (December 1982): 741-74.
    Listed reading
  • Calomiris, Charles W. “Is Deposit Insurance Necessary?” Journal of Economic History 50 (June 1990): 283-95.
    Listed reading
  • Fogel, Robert William. Without Consent or Contract: The Rise and Fall of American Slavery . New York, NY: Norton, 1989, chapter 3, pp. 60-80. ISBN: 0393018873.
    Listed reading
  • Steckel, Richard H. “A Peculiar Population: The Nutrition, Health, and Mortality of American Slaves from Childhood to Maturity.” Journal of Economic History 46 (1986): 721-41.
    Listed reading
  • Alston, Lee J., and Joseph P. Ferrie. “Paternalism in Agricultural Labor Contracts in the U.S. South: Implications for the Growth of the Welfare States.” American Economic Review 83 (September 1993): 852-76.
    Listed reading
  • Sacerdote, Bruce. “Slavery and the Intergenerational Transmission of Human Capital.” Review of Economics and Statistics . (Forthcoming.)
    Listed reading
  • Heckman, James J. “Determining the Impact of Federal Antidiscrimination Policy on the Economic Status of Blacks: A Study of South Carolina.” American Economic Review 79 (March 1989): 138-77.
    Listed reading
  • Goldin, Claudia. Understanding the Gender Gap: An Economic History of American Women . New York, NY: Oxford University Press, 1990, chapters 4-5, pp. 83-158. ISBN: 0195050770.
    Listed reading
  • Costa, Dora. “Pensions and Retirement: Evidence from Union Army Veterans.” Quarterly Journal of Economics 110 (May 1995): 297-320.
    Listed reading
  • Chandler, Alfred Dupont, and Takashi Hikino. Scale and Scope: The Dynamics of Industrial Capitalism . Cambridge, MA: Belknap Press, 1990, chapter 2, pp. 14-46. ISBN: 0674789946.
    Listed reading
  • Granitz, Elizabeth, and Benjamin Klein. “Monopolization by ‘Raising Rivals’ Costs’: The Standard Oil Case.” Journal of Law and Economics 32 (April 1996): 1-47.
    Listed reading
  • Listed reading
  • Bernanke, Ben. “Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression.” American Economic Review 73 (June 1983): 257-76.
    Listed reading
  • ———. “The Macroeconomics of the Great Depression: A Comparative Approach.” Journal of Money, Credit and Banking 27 (1995): 1-28.
    Listed reading
  • Listed reading
  • Obstfeld, Maurice, and Alan M. Taylor. “The Great Depression as a Watershed: International Capital Mobility over the Long Run.” In The Defining Moment: The Great Depression and the American Economy in the Twentieth Century . Edited by Michael D. Bordo, Claudia Dale Goldin, and Eugene Nelson White. Chicago, IL: University of Chicago Press, 1998, pp. 353-402. ISBN: 0226065898.
    Listed reading
  • Gordon, Robert J. “Interpreting the ‘One Big Wave’ in U.S. Long-term Productivity Growth.” In Productivity, Technology and Economic Growth . Edited by Bart van Ark, Simon K. Kuipers, and Gerard H. Kuper. Boston, MA: Kluwer Academic Publishers, 2000, pp. 19-65. ISBN: 0792379608. Reprinted in Gordon, Robert J. Productivity Growth, Inflation and Unemployment: The Collected Essays of Robert J. Gordon . Cambridge, UK: Cambridge University Press, 2004, pp. 50-89. ISBN: 0521800080.
    Listed reading
  • Costa, Dora L., and Matthew E. Kahn. “Cowards and Heroes: Group Loyalty in the American Civil War.” Quarterly Journal of Economics 118, no. 2 (May 2003): 519-48.
    Listed reading
  • Thompson, Peter. “How Much Did the Liberty Ship Builders Learn? New Evidence on an Old Case Study.” Journal of Political Economy 109, no. 1 (February 2001): 103-37.
    Listed reading
  • Romer, Christina. “New Estimates of Prewar Gross National Product and Unemployment.” Journal of Economic History 46, no. 2 (1986): 341-352.
    Listed reading
  • Costa, Dora L. “Estimating Real Income in the United States from 1888 to 1994: Correcting CPI Bias Using Engel Curves.” Journal of Political Economy 109 (December 2001): 1288-1310.
    Listed reading
  • Goldin, Claudia, and Robert A. Margo. “The Great Compression: The Wage Structure in the United States at Mid-Century.” Quarterly Journal of Economics 107 (February 1992): 1-34.
    Listed reading
  • Goldin, Claudia, and Lawrence F. Katz. “Decreasing (and then Increasing) Inequality in America: A Tale of Two Half-Centuries.” In The Causes and Consequences of Increasing Inequality . Edited by Finis Welch. Chicago, IL: University of Chicago Press, 2001, pp. 37-77. ISBN: 0226893014.
    Listed reading
  • Costa, Dora L. “The Wage and the Length of the Work Day: From the 1890s to 1991.” Journal of Labor Economics 18 (January 2000): 156-181.
    Listed reading
Sources