This article introduces the Americas in the Great Divergence debate by measuring real wages in various North and South American cities between colonization and independence, and comparing them to Europe and Asia. We find that for much of the period, North America was the most prosperous region of the world, while Latin America was much poorer. We then discuss a series of hypotheses that can explain these results, including migration, the demography of the American Indian populations, and the various labor systems implemented in the continent.
Estimates of employment structure, agricultural output, and agricultural labour productivity are developed for the leading European countries from 1300 to 1800. The employment estimates are developed from estimates of the total, urban, and rural populations. The output estimates are derived by positing a demand curve for agricultural goods.
This chapter presents the text of a lecture on the Industrial Revolution in Great Britain given at the British Academy's 2009 Keynes Lecture in Economics. This text suggests that the Industrial Revolution was Britain's response to the global economy that emerged after 1500 and that Britain's success in world trade resulted in one of the most urbanised economies in Europe with unusually high wages and cheap energy prices. The text here also highlights the contribution of Britain in the invention of the steam engine and the cotton spinning machines and in scientific discoveries relating to atmospheric pressure.
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