Unequal gains : American growth and inequality since 1700 / Peter H. Lindert and Jeffrey G. Williamson.

Format:

Book

Author/Creator:

Lindert, Peter H., author.

Williamson, Jeffrey G., 1935- author.

Series:

Princeton economic history of the Western world.

The Princeton Economic History of the Western World ; 62

Language:

English

Subjects (All):

Economic development--United States--History.

Economic development.

Income distribution--United States--History.

Income distribution.

Wealth--United States--History.

Wealth.

United States--Economic conditions.

United States.

Physical Description:

1 online resource (421 pages)

Edition:

1st ed.

Place of Publication:

Princeton, NJ : Princeton University Press, [2016]

Language Note:

English

Summary:

Unequal Gains offers a radically new understanding of the economic evolution of the United States, providing a complete picture of the uneven progress of America from colonial times to today.While other economic historians base their accounts on American wealth, Peter Lindert and Jeffrey Williamson focus instead on income-and the result is a bold reassessment of the American economic experience. America has been exceptional in its rising inequality after an egalitarian start, but not in its long-run growth.America had already achieved world income leadership by 1700, not just in the twentieth century as is commonly thought. Long before independence, American colonists enjoyed higher living standards than Britain-and America's income advantage today is no greater than it was three hundred years ago. But that advantage was lost during the Revolution, lost again during the Civil War, and lost a third time during the Great Depression, though it was regained after each crisis. In addition, Lindert and Williamson show how income inequality among Americans rose steeply in two great waves-from 1774 to 1860 and from the 1970s to today-rising more than in any other wealthy nation in the world. Unequal Gains also demonstrates how the widening income gaps have always touched every social group, from the richest to the poorest. The book sheds critical light on the forces that shaped American income history, and situates that history in a broad global context.Economic writing at its most stimulating, Unequal Gains provides a vitally needed perspective on who has benefited most from American growth, and why.

Contents:

Frontmatter

Contents

List of Illustrations

Preface

Chapter 1. Persistent Debate, a New Approach, More Data, Rich Findings

Chapter 2. Colonial Incomes on the Eve of the Revolution

Chapter 3. When Did Colonial America Get Rich?

Chapter 4. Losing the Lead

Chapter 5. Unequal Economic Growth, 1800-1860

Chapter 6. The Civil War

Chapter 7. Contending Forces

Chapter 8. The Greatest Leveling of All Time

Chapter 9. Rising Inequality Once More, since the 1970s

Chapter 10. Inequality and Growth

Appendix A. A Guide to the 1774 and 1800 Estimates

Appendix B. Salaries, Payment in Kind, and Workdays

Appendix C. Estimating Slaves' Retained Earnings, Colonial Times to 1860

Appendix D. American versus British Prices, 1640-1875

Appendix E. A Guide to the 1860 Income Estimates, and Some Modifications for 1850

Appendix F. A Guide to the 1870 Income Estimates

Appendix G. Farm Operators' Incomes in 1870

Appendix H. Sources and Notes to Tables and Figures in Main Text

References

Index

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 23. Mai 2019)

Description based on publisher supplied metadata and other sources.

ISBN:

9781400880348

1400880343

OCLC:

1100697206