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Late Nineteenth-Century American Retardation: A Neoclassical Analysis

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  • Williamson, Jeffrey G.

Abstract

English growth experience from the 1860's to the 1890's has been the source of continued research and debate. Judged by the recent contributions of McCloskey, the intensity of the debate has diminished little over the past seventy-five years. The period has long been identified in the literature as the “Great Depression.” It has been well established that the decades up to 1896 were characterized by declining general price levels, declining nominal interest rates, and serious retardation in aggregate real output growth. These are not merely figments of historical research since they were subjects of contemporary observation as well.

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  • Williamson, Jeffrey G., 1973. "Late Nineteenth-Century American Retardation: A Neoclassical Analysis," The Journal of Economic History, Cambridge University Press, vol. 33(3), pages 581-607, September.
    • Handle: RePEc:cup:jechis:v:33:y:1973:i:03:p:581-607_07
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    Cited by:

    1. Knick Harley, 2003. "Growth theory and industrial revolutions in Britain and America," Canadian Journal of Economics, Canadian Economics Association, vol. 36(4), pages 809-831, November.
    2. Andrew J. Seltzer, 2021. "Globalisation, migration, trade and growth: Honouring the contribution of Jeff Williamson to Australian and Asia‐Pacific economic history—Guest Editor's introduction," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 61(2), pages 128-135, July.

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