The Economics of Slavery: And Other Studies in Econometric History

by Meyer,John R.

• ISBN13: 9780202309347
• ISBN10: 0202309347
• Format: Nonspecific Binding
• Copyright: 2007-03-15
• Publisher: Routledge

Summary

How are economists and historians to explain what happened in history? What statistical inferences can be drawn from historical data? The authors believe that explanation in history can be identified with the problems of prediction in a probabilistic universe. Using this approach, the historian can act upon his a priori information and his judgment of what is unique and particular in each past event, even with data hitherto considered to be intractable for statistical treatment. In essence, the book is an argument for and a demonstration of the point of view that the restricted approach of "measurement without theory" is not necessary in history, or at least not necessary in economic history. After two chapters of theoretical introduction, the authors explore the meanings and implications of evidence, explanation and proof in history by applying econometric methods to the analysis of three major problems in 19th century economic history--the profitability of slavery in the antebellum South, income growth and development in the United States during the 1800's, and The Great Depression in the British economy; also included is a postscript on growth reassessing some current arguments in the light of the findings of these papers. The book presents an original and provocative approach to historical problems that have long plagued economists and historians and provides the reader with a new approach to these and similar questions. Alfred H. Conrad is professor of business administration at Harvard University. Much of Conrad's work has appeared in professional journals. John R. Meyer is James W. Harpel Professor of Capital Formation and Economic Growth emeritus at Harvard University. Meyer's books include The Investment Decision and Economics of Competition in the Transportation Industry. He has served as a board member and economic advisor for various businesses.

Author Biography

John R. Meyer is James W. Harpel Professor of Capital Formation and Economic Growth Emeritus at Harvard University John R. Meyer is James W. Harpel Professor of Capital Formation and Economic Growth Emeritus at Harvard University

Table of Contents

Economic Theory, Statistical Inference, and Economic History	p. 3
Statistical Inference and Historical Explanation	p. 31
The Economics of Slavery in the Antebellum South	p. 43
Statistical Appendix	p. 85
Comment by Douglas F. Dowd and Reply by the Authors	p. 93
Comment by John E. Moes and Reply by the Authors	p. 99
Income Growth and Structural Change: The United States in the Nineteenth Century	p. 115
An Input-Output Approach to Evaluating British Industrial Production in the Late Nineteenth Century	p. 183
Sources and Methods	p. 200
A Commentary on Hoffman's Historical Indices of British Industrial Production	p. 206
Industry Components of the Sectors of the Input-Output Table	p. 213
A Polemical Postcript on Economic Growth	p. 223
Index of Names	p. 237
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