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Risk Sharing, Crew Quality, Labor Shares and Wages in the Nineteenth Century American Whaling Industry

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  • Lance E. Davis
  • Robert E. Gallman
  • Teresa D. Hutchins

Abstract

This paper examines 36.640 labor contracts signed between whalemen and the agents who organized 1,258 whaling voyages that departed from New Bedford, Massachusetts between January I. 1840 and December 31, 1858 and between January I and December 31, 1866. The contracts contain information on the whaleman's station (occupation) and on his lay (the fraction of output of the voyage that he was entitled to receive upon completion). The paper investigates the benefits associated with this unique contract. examines the occupational and spatial distribution of lays. and compares wages in whaling with those available in the merchant marine and those earned in shore based pursuits. It also attempts to assess the efficiency of this early labor market and to explore the relationship between the labor contract, crew quality. technical change. and productivity.

Suggested Citation

  • Lance E. Davis & Robert E. Gallman & Teresa D. Hutchins, 1990. "Risk Sharing, Crew Quality, Labor Shares and Wages in the Nineteenth Century American Whaling Industry," NBER Historical Working Papers 0013, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberhi:0013
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    Cited by:

    1. Suphan Andic & Jan Winiecki & Siegfried Bergström & Torsten Tewes & Gunter Steinmann & Charles Kindleberger & Jamuna Agarwal & Astrid Rosenschon & Valdas Samonis & Wolf SchÄfer & Siegfried Franke & Gu, 1991. "Rezensionen," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 127(1), pages 195-217, March.
      • Torsten Tewes & Valdas Samonis & Barbara Kauffmann & Jamuna Agarwal & Hartmut Picht & Siegfried Franke & Ulrich Hiemenz & Alfred Boss & Federico Foders & Norbert Wagner & Torsten Tewes, 1989. "Rezension," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 125(3), pages 639-658, September.

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