American Economic Growth and Standards of Living before the Civil War (National Bureau of Economic Research Conference Report)

FROM THE PUBLISHER

Between the Revolutionary War and the Civil War, the American economy began its dramatic transformation to a modern industrial system. Scholars have long speculated about the pace and pattern of economic growth curing this period and the effects of growth on standards of living. In this volume, leading economic historians bring together a generation of research on these central issues. The contributors survey a variety of sources - including censuses, tax lists, farm day books, military records, U.S. Treasury reports, and patent records - to assemble data on the labor force, wage rates, national income, the capital stock, prices, technical changes, and productivity improvements. The quantitative data reveal that there was a significant and sustained improvement in economic performance between 1790 and 1860. Moreover, rates of growth accelerated over the whole period, despite several temporary setbacks. Looking beyond traditional measures and answer, additional important questions: Was the improvement in income widely shared? What happened to the quality of life? Were there important human costs to industrialization? How was the nature of work affected? What happened to health and longevity? The preponderance of evidence shows that living standards improved across a wide spectrum of society. However, there are gaps in our knowledge of how the poorest Americans fared. Even though many enjoyed better incomes, there are indications that the disease environment deteriorated, with unfavorable consequences for morbidity and mortality. With these important findings, the contributors set the agenda for further research on standards of living during a critical period in American history.

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