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In this volume in the NBER series on capital formation and financing, the authors show, with supporting figures, two major trends in mining and manufacturing. The first is that this sector had a rate of growth significantly higher than that of the economy as a whole. The total capital assets of this sector increased fifteenfold from 1880 to 1948, while the total stock of all tangible wealth in the United States increased only about sixfold. The second trend is a marked diversity among industries in the rate of growth over the period and in the time pattern of that rate. The authors advance a number of explanatory hypotheses about the significance of their findings. Originally published in 1960. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Historians and economists will find here what their fields have in common - the movement since the 1950s known variously as 'cliometrics', 'economic history', or 'historical economics'. A leading figure in the movement, Donald McCloskey, has compiled, with the help of George Hersh and a panel of distinguished advisors, a highly comprehensive bibliography of historical economics covering the period up until 1980. The book will be useful to all economic historians, as well as quantitative historians, applied economists, historical demographers, business historians, national income accountants, and social historians.
Jane Adams focuses on the transformation of rural life in Union County, Illinois, as she explores the ways in which American farming has been experienced and understood in the twentieth century. Reconstructing the histories of seven farms, she places the details of daily life within the context of political and economic change. Adams identifies contradictions that, on a personal level, influenced relations between children and parents, men and women, and bosses and laborers, and that, more generally, changed structures of power within the larger rural community. In this historical ethnography, Adams traces two contradictory narratives: one stresses plenitude--rich networks of neighbors and kin, the ability to supply families from the farm, the generosity shown to those in need--while the other stresses the acute hardships and oppressive class, gender, and age inequities that characterized farm life. The New Deal and World War II disrupted both patterns, as the increased capital necessary for successful farming forced many to move from agriculture to higher-paid nonfarm work. This shift also changed the structure of the farm household, as homes modernized and women found work off the farm. Adams concludes that large-scale bureaucracies leveled existing class distinctions and that community networks eroded as farmers came to realize an improved standard of living.