Slow real wage growth during the Industrial Revolution: productivity paradox or pro-rich growth?
نویسندگان
چکیده
abstract I examine the implications of technological change for productivity, real wages and factor shares during industrial revolution using recently available data. This shows that GDP per worker grew faster than consumption earnings but labour’s share national income changed little as product at a similar rate to labour productivity in medium term. The period saw modest total growth which limited both productivity. Economists looking an historical example rapid labour-saving progress having seriously adverse impact on must look elsewhere.
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ژورنال
عنوان ژورنال: Oxford Economic Papers-new Series
سال: 2021
ISSN: ['0030-7653', '1464-3812']
DOI: https://doi.org/10.1093/oep/gpab008