Tag: economic history

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They Didn’t See It Coming: Prosperity

As I have stated before, historians are often influenced by what’s going on around them when they write about the past. In the 1950s and 1960s, the newly-independent countries looked as though they might experience  their own industrial revolutions. That led to an interest among historians in the early Industrial Revolution. [1]

Economists caught the enthusiasm, too. They viewed the great potential of these countries and expected an Industrial Revolution—what W. W. Rostow called these countires’ “take-off.” [2] But that period  of enthusiasm was followed by disillusionment. It turned out that many countries failed to achieve the take-off that seemed right at their doorstep.

I suggest that the economists were looking at the wrong things.

More than 20 years ago in an article for  the Journal of Private Enterprise [3] I wrote about  economists’ views of development as reflected in Paul Samuelson’s famous textbook.  (That’s the one you probably  read in your first economics class if you are of a certain age.)

I looked at Samuelson’s treatment of international development in four editions of the textbook, 1951, 1961, 1964, 1985. In them he reveals both his own views and those of other leading development economists.

In the 1961 edition, optimism for growth still reigned. Continue reading “They Didn’t See It Coming: Prosperity”

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In the Belly of the Beast

In the mid-1970s, while browsing in the Chicago Public Library, I came across The Rise of the Western World by Douglass North and Robert Thomas. [1] This short book tells a fascinating story of how property rights, trade, and limited government led to prosperity in the West (prosperity that eventually spread around the world).

Since then I’ve read many books about the success of the West and specifically about the Industrial Revolution, which started in England around 1760 and is generally viewed as continuing till 1830. I personally rate the Industrial Revolution as equal in importance to the discovery of agriculture.

So it will come as no surprise that, as a graduate student in history, I am studying the Industrial Revolution. In fact, I am studying labor conditions in the Industrial Revolution. Yes, the labor conditions that Charles Dickens wrote about in his novels Hard Times and Oliver Twist.

On the one hand, the Industrial Revolution was an exciting time. As a British schoolboy supposedly said, “About 1760 a wave of gadgets swept over England.”[2] New inventions, especially in the textile industry, appeared one after another, enormously improving productivity, reducing costs, and launching an age of material success.

On the other hand, labor conditions were tough. The new factories needed workers and  brawn was not required. Women and children could work and monitor the machines—and they did.

Continue reading “In the Belly of the Beast”

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I’m Going Back to College

For the past few years I have been taking courses at North Carolina State University—first, a few undergraduate courses in French and history, then graduate-level classes in history alone. In April, I was accepted as a genuine, formal graduate student seeking a master’s degree. My primary concentration will be European history.

I’m retired. I’ve been retired since 2015. My husband, Rick, is an economist who says that education is an investment and, given my age, I won’t have much time to earn a return on it. So why do I want to do this? My reply is that this education is a consumption good, not an investment. Some people have “bucket lists” of things they want to do before they die—usually places they want to see. My bucket has two things in it: studying history and speaking French.

I’m writing this blog because I wish to deepen my educational experience and see if my observations resonate with others.’ I want to comment about it all—mostly history and historiography, but also other academic disciplines and maybe even pedagogy and college administration (not personalities, though, except possibly my own). I hope my questions and comments will elicit further observations, including corrections, from colleagues and friends, practiced historians, and fellow  students.

Continue reading “I’m Going Back to College”