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FACTOR PRICES AND INCOME DISTRIBUTION IN LESS INDUSTRIALISED ECONOMIES 1870–1939
Author(s) -
Greasley David,
Inwood Kris,
Singleton John
Publication year - 2007
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/j.1467-8446.2006.00193.x
Subject(s) - renting , distribution (mathematics) , economics , wage , income distribution , range (aeronautics) , relative price , economy , labour economics , economic geography , macroeconomics , inequality , political science , mathematical analysis , mathematics , materials science , composite material , law
Global trade expansion after 1870 had potentially powerful effects on income distribution, especially in land‐abundant less industrialised economies, by increasing land prices relative to wages. The papers in this issue add evidence on wage–rentals for a range of countries, specifically Australia, Canada, Ghana, India, and Sweden. These new data offer partial support for Jeffrey Williamson’s view that the distributional effects of booming global trade to 1914 were powerful and ubiquitous, but they highlight that more attention might be given to geographical boundaries and to other distribution forces including technology and wage bargaining conditions.