Living Standards During the Industrial Revolution: An Economist's Guide
Posted: 18 Feb 2003
The Industrial Revolution has attracted increasing interest in the theoretical growth literature. Yet most models share few similarities with the economic events that unfolded in Britain, ca. 1750 to 1850. This paper briefly discusses a number of popular models, contrasts them with recent evidence from economic history, and summarizes five stylized facts that might usefully guide future research.
Keywords: Industrial Revolution, living standards, growth, discontinuity models, demographic transition, human capital, technological change
JEL Classification: O0, O3, N1, J1
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