Book ID: CBB025610513

Capital in the nineteenth century (2019)

unapi

Rhode, Paul Webb (Author)
Gallman, Robert E. (Author)


The University of Chicago Press


Publication Date: 2019
Edition Details: NBER series on long-term factors in economic development;
Physical Details: 381
Language: English

A nation's capital stock is widely recognized as a crucial determinant of the productivity of its workers and the standard of living of its citizens. Tracking the evolution of capital is therefore a critical input to economic history. The economist Robert E. Gallman (1926-98) gathered extensive data on US capital stock and created a legacy that has, until now, been difficult for researchers to access and appraise in its entirety. Gallman measured American capital stock from a range of perspectives, viewing it as the accumulation of income saved and invested, and as an input into the production process. He used the level and change in the capital stock as proxy measures for long-run economic performance. Analyzing data in this way, from the end of the US colonial period to the turn of the twentieth century, Gallman provided a firm empirical foundation for our knowledge of the long nineteenth century---the period during which the United States began to experience per capita income growth and became a global economic leader. Gallman's research was painstaking and his analysis meticulous, but he did not publish the material supporting his findings during his lifetime. Here Paul W. Rhode completes this project, giving permanence to a great economist's insights and endeavors.

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Reviewed By

Review Bob Kaminski (Winter 2021) Review of "Capital in the nineteenth century". Business History Review (pp. 854-856). unapi

Citation URI
https://data.isiscb.org/isis/citation/CBB025610513/

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Authors & Contributors
Bishara, Fahad Ahmad
Robert D. Lewis
Christine Strotmann
Mary E. Hansen
Pistor, Katharina
Steve C. Gordon
Concepts
Economic history
Business history
Capitalism
Finance
Industrialization
Politics and government
Time Periods
19th century
20th century
18th century
21st century
Places
United States
Southern states (U.S.)
Cincinatti, OH
North Santiam Canyon
Indian Ocean
Oregon (U.S.)
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