The Economy of Colonial America: The Debate Over Real Per Capita Income Estimates
Histoire sociale/Social History, pp. 337-342, 1988
Posted: 24 Jan 2010
Date Written: 1988
The revisionist real per capita net national income estimates for colonial America, derived from Alice Handon Jones' path breaking wealth estimates, do not differ significantly from Robert Gallman's long-standing estimates. And, though it appears that the revisionist estimates are, unlike Gallman's, derived from a firm empirical base, in actual fact the new estimates suffer from the same empirical difficulties as do the old. However, new empirical evidence from early Canada is presented which serves to support the assumptions that underlie the construction of Gallman's national income estimates and growth rates as opposed to those of the revisionists.
Keywords: America, Income per capita, Real Income, Wealth, Gallman, Growth rates
JEL Classification: N31, E01
Suggested Citation: Suggested Citation