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Was Ecomomic Growth Likely in Colonial British North America?

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  • Mancall, Peter C.
  • Weiss, Thomas

Abstract

Conventional wisdom holds that output per capita in colonial British America increased between 0.3 and 0.6 percent per year. Our conjectural estimates challenge this view, suggesting instead that such growth was unlikely. We show that the most likely rate of economic growth was much lower, probably close to zero. We argue further that to understand the performance of the colonial economy it is necessary to include the economic activity of Native American Indians. When this is done, we estimate that the economy may have grown at the rate suggested by previous researchers.

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  • Mancall, Peter C. & Weiss, Thomas, 1999. "Was Ecomomic Growth Likely in Colonial British North America?," The Journal of Economic History, Cambridge University Press, vol. 59(1), pages 17-40, March.
    • Handle: RePEc:cup:jechis:v:59:y:1999:i:01:p:17-40_02
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    Cited by:

    1. Rosenbloom, Joshua L. & Weiss, Thomas, 2014. "Economic growth in the Mid-Atlantic region: Conjectural estimates for 1720 to 1800," Explorations in Economic History, Elsevier, vol. 51(C), pages 41-59.
    2. Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
    3. John Komlos, "undated". "On the Biological Standard of Living of Eighteenth-Century Americans: Taller, Richer, Healthier," Articles by John Komlos 3, Department of Economics, University of Munich.
    4. Rosenbloom, Joshua L., 2018. "The Colonial American Economy," ISU General Staff Papers 201802270800001002, Iowa State University, Department of Economics.
    5. Vincent J. Geloso, 2019. "Distinct within North America: living standards in French Canada, 1688–1775," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 13(2), pages 277-321, May.
    6. Prados de la Escosura, Leandro, 2005. "Colonial independence and economic backwardness in Latin America," Economic History Working Papers 22482, London School of Economics and Political Science, Department of Economic History.
    7. Lindert, Peter H. & Williamson, Jeffrey G., 2013. "American Incomes Before and After the Revolution," The Journal of Economic History, Cambridge University Press, vol. 73(3), pages 725-765, September.
    8. Gregg, Matthew T. & Wishart, David M., 2012. "The price of Cherokee removal," Explorations in Economic History, Elsevier, vol. 49(4), pages 423-442.
    9. Joshua L. Rosenbloom, 2008. "Technology Evolution," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200805, University of Kansas, Department of Economics, revised Sep 2008.
    10. Mancall, Peter C. & Rosenbloom, Joshua L. & Weiss, Thomas, 2002. "Agricultural labor productivity in the Lower South, 1720-1800," Explorations in Economic History, Elsevier, vol. 39(4), pages 390-424, October.
    11. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133.
    12. Douglas A. Irwin & Richard Sylla, 2010. "The Significance of the Founding Choices: Editors' Introduction," NBER Chapters, in: Founding Choices: American Economic Policy in the 1790s, pages 1-21, National Bureau of Economic Research, Inc.
    13. Peter C. Mancall & Joshua L. Rosenbloom & Thomas Weiss, 2000. "Conjectural Estimates of Economic Growth in the Lower South, 1720 to 1800," NBER Historical Working Papers 0126, National Bureau of Economic Research, Inc.
    14. Peter Mancall & Joshua Rosenbloom & Thomas J. Weiss, 2008. "Commodity Exports, Invisible Exports and Terms of Trade for the Middle Colonies, 1720 to 1775," NBER Working Papers 14334, National Bureau of Economic Research, Inc.

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