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Precedence and Wealth: Evidence from Nineteenth-Century Utah

In: Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel

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  • David W. Galenson
  • Clayne L. Pope

Abstract

Earlier work has established a strong positive relationship between a household's wealth and its duration in the local economy. This paper explores the possible connection between the magnitude of this wealth/duration relationship and the community's precedence rate--the percentage of households in a given year (1870) present in the same locale in an earlier year (1860). We hypothesize that a low precedence rate will be associated with a high return to the household's duration in the local economy, controlling for the size of the local population. This hypothesis is tested and tentatively confirmed for the counties of Utah in 1870. We also find that a low precedence rate is associated with increased inequality.
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Suggested Citation

  • David W. Galenson & Clayne L. Pope, 1992. "Precedence and Wealth: Evidence from Nineteenth-Century Utah," NBER Chapters, in: Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel, pages 225-241, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:6963
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    Cited by:

    1. Kim, Sukkoo & Margo, Robert A., 2004. "Historical perspectives on U.S. economic geography," Handbook of Regional and Urban Economics, in: J. V. Henderson & J. F. Thisse (ed.), Handbook of Regional and Urban Economics, edition 1, volume 4, chapter 66, pages 2981-3019, Elsevier.
    2. Robert A. Margo, 1998. "Labor Market Integration Before the Civil War," NBER Working Papers 6643, National Bureau of Economic Research, Inc.
    3. Dupont, Brandon & Rosenbloom, Joshua L., 2018. "The economic origins of the postwar southern elite," Explorations in Economic History, Elsevier, vol. 68(C), pages 119-131.
    4. Thomas N. Maloney & Heidi Hanson & Ken Smith, 2014. "Occupation and fertility on the frontier," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 30(29), pages 853-886.
    5. Dupont, Brandon & Rosenbloom, Joshua L., 2020. "Wealth Mobility in the 1860s," ISU General Staff Papers 202009180700001112, Iowa State University, Department of Economics.
    6. Brandon Dupont & Joshua Rosenbloom, 2016. "The Impact of the Civil War on Southern Wealth Holders," NBER Working Papers 22184, National Bureau of Economic Research, Inc.
    7. Margo, Robert A., 1999. "Regional Wage Gaps and the Settlement of the Midwest," Explorations in Economic History, Elsevier, vol. 36(2), pages 128-143, April.

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