Below are updated links to various posts on 19th century economic history, in the US, the UK, Australia and Japan, as well posts analysing the deflation of 1873 to 1896.
(1) General
“The Gold Standard did not Prevent Price Inflation,” October 26, 2012.
“The Classical Gold Standard Era was a Myth,” March 18, 2013.
“The Profit Deflation of the 1890s,” June 13, 2013.
“Alfred Marshall’s Judgement on the ‘Depression’ of 1873–1896,” June 13, 2013.
“S. B. Saul on the Profit Deflation of the 1873–1896 Period,” June 14, 2013.
“The Original Economic Use of the Word ‘Inflation’?,” August 4, 2014.
(2) The US
“Woods on ‘Sound Money’ and Deflation: A Critique,” March 17, 2013.
“19th Century Deflation and Recession in the US,” February 9, 2013.
“US GNP Estimates in the Recession of the 1890s,” January 18, 2011.
“Government Intervention, James J. Hill and the Great Northern Railway,” July 26, 2011.
“US Real GNP Estimates 1869–1879,” December 4, 2011.
“The US Recessions of the 1890s in Balke and Gordon,” December 5, 2011.
“Why was US Unemployment so High in the 1890s?,” December 6, 2011.
“US Real GNP Growth in the 1880s,” December 6, 2011.
“Real US GNP Growth Rates 1870–1900 in Balke and Gordon,” December 6, 2011.
“Real US GNP Growth Rates 1870–1900 in Romer,” December 6, 2011.
“Real GDP and GDP per capita, 1870–1913, Selected Nations,” December 7, 2011.
“Real US GNP Growth Rates 1870–1913 in Balke and Gordon,” December 8, 2011.
“Real US GNP Growth Rates 1870–1913 in Romer,” December 9, 2011.
“US Unemployment in the 1890s,” January 24, 2012.
“US Unemployment, 1869–1899,” January 26, 2012.
“Real US GNP Growth Rates, 1873–1896,” February 26, 2012.
“Thomas E. Woods on Keynesian Predictions vs. American History: A Critique,” May 29, 2012.
“Davis on US Recessions in the 19th Century,” August 25, 2012.
“Reply to ‘Unemployment, Deflation and Growth During the Period of 1873–1896,’” September 6, 2012.
“Per Capita GDP Growth Rates During the Gold Standard Era,” September 11, 2012.
“US Real Per Capita GDP from 1870–2001,” September 24, 2012.
“Rothbard on the US Economy in the 1870s: A Critique,” September 24, 2012.
“US Unemployment Graph, 1869–1899,” February 27, 2013.
“US Unemployment in the 1890s Again,” February 20, 2014.
“US Unemployment in the 1890s: Who is Right?,” December 30, 2013.
“US Industrial Production in the 1890s,” January 2, 2014.
“Were Nominal Wages Flexible in 1890s and Early 1900s America?,” January 31, 2014.
“Weir on Historical Estimates of US Unemployment,” February 9, 2014.
“A US Wholesale Price Index 1860–1914,” June 3, 2014.
“Protectionism and US Economic History,” June 8, 2014.
“US Industrial Production Index 1800–1914,” June 9, 2014.
“US Bank Suspensions 1864–1970,” January 8, 2015.
“Real US GDP 1870–2001,” January 13, 2015.
“Huerta de Soto gets it Wrong on the Gold Standard,” December 20, 2014.
(3) The Deflation of 1873 to 1896
“Libertarian Gold Standard Myths Never Die,” January 13, 2015.
“Neoclassical and Quantity Theory Explanations of the 1873–1896 Deflation,” January 7, 2015.
“More Evidence on the Profit Squeeze of 1873–1896,” January 5, 2015.
“UK Gross Domestic Fixed Capital Formation in the 1873 to 1896 Deflation,” December 18, 2014.
“Nominal Wage Rigidity in the US and the UK 1865/1880–1913,” December 16, 2014.
“Armitage-Smith on the Profit Deflation of the 1873–1896 Era,” December 15, 2014.
“UK Average Money Earnings 1880–1913,” December 14, 2014.
“UK Real Per Capita GDP 1830–1913,” December 13, 2014.
“British Money Wages in the 1873–1896 Deflation,” December 10, 2014.
“Saul’s The Myth of the Great Depression, 1873–1896,” December 8, 2014
“Alfred Marshall on the Deflation of 1873–1896,” October 14, 2014.
“UK Real GDP 1830–1918,” October 8, 2012.
“Robert Giffen on the Deflation of 1873–1896,” December 7, 2014.
“Alfred Marshall on Business Confidence,” December 3, 2014.
“Alfred Marshall on Wage Stickiness and Debt Deflation,” November 30, 2014.
“The Profit Deflation of the 1890s,” June 13, 2013.
“Alfred Marshall’s Judgement on the ‘Depression’ of 1873–1896,” June 13, 2013.
“S. B. Saul on the Profit Deflation of the 1873–1896 Period,” June 14, 2013.
(4) The UK
“The Early British Industrial Revolution and Infant Industry Protectionism: The Case of Cotton Textiles,” June 22, 2010.
“UK Real GDP 1830–1918,” October 8, 2012.
“UK Unemployment, 1870–1999,” February 25, 2013.
(5) Australia
“The Australian Business Cycle in the 19th Century,” June 1, 2011.
“Free Banking in Australia,” May 16, 2012.
“A Tale of Two Depressions: 1930s and 1890s Australia,” May 18, 2012.
(6) Japan
“Industrial Policy in Meiji Japan,” April 14, 2012.
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A gold sovereign was worth more at Queen Victoria's death than her birth during one of the greatest expansions in real wealth ever seen.
ReplyDeleteI suspect there is a paper one can find to hand waive that one off too but I note drowning each other in papers is pointless. Consider the Great Depression. There are three versions that use same data but have totally different narrative, (Rothbard, Keynes, Friedman). Each of their followers can just shout at the others and email them countless studies by their supporters that just PROVE DAMMIT that 'we' were right.