Grasping Reality by Brad DeLong

Spring 2012: U.C. Berkeley:

January 18. The Malthusian Economy (Eichengreen)

• Thomas Malthus (1798), An Essay on the Principle of Population, Chapters 1-2, pp.1-11, Electronic Scholarly Publishing Project, 1998. http://www.esp.org/books/malthus/population/malthus.pdf

• E. Anthony Wrigley (1992), “Why Poverty Was Inevitable in Traditional Societies,” in Ernest Gellner, John Hall and I.C. Jarvie (eds.), Transition to Modernity, pp. 71-110. Cambridge: Cambridge University Press. On reserve at Graduate Services.

• Gregory Clark (2007), A Farewell to Alms: A Brief Economic History of the World, Chapters 2, “The Logic of the Malthusian Economy,” pp. 19-39 and Chapter 3, “Living Standards,” pp. 40-70. Princeton: Princeton University Press. On reserve at Graduate Services. An earlier draft (not preferred) is available at http://tinyurl.com/dl20090112e (chapter 2) and http://tinyurl.com/dl20090112j (chapter 3).

January 25. The Commercial Revolution (DeLong)

• Karl Marx (1867), "The So-called Primitive Capital Accumulation," Capital, Vol. 1, Part VIII, Chapters 26-32. http://tinyurl.com/dl20090112k

• Daron Acemoglu, Simon Johnson, and James Robinson (2005), "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth," American Economic Review 95:3, pp. 546-79. http://www.jstor.org/stable/i387682

• Jan de Vries (2010) "The Limits to Globalization in the Early Modern World," Economic History Review 63:3, pp. 710-33. http://web.ebscohost.com/ehost/results?sid=2ed5a63b-2aff-4c71-9e08-a3ca196c942a%40sessionmgr104&vid=2&hid=125&bquery=(JN+%26amp%3bquot%3bEconomic+History+Review%26amp%3bquot%3b+AND+DT+20100801)&bdata=JmRiPWJ0aCZ0eXBlPTEmc2l0ZT1laG9zdC1saXZl

• Jeffrey Williamson and Kevin O'Rourke (2002), "After Columbus: Explaining Europe's Overseas Trade Boom, 1500-1800," Journal of Economic History 62, pp. 417-56. http://www.nber.org/papers/w8186

February 1. The Agricultural Revolution (DeLong)

• Donald McCloskey (1972), “The Enclosure of Open Fields,” Journal of Economic History 32, pp. 15-35. http://www.jstor.org/stable/2117175

• Robert Allen (2008), “The Nitrogen Hypothesis and the English Agricultural Revolution: A Biological Analysis,” Journal of Economic History 68, pp. 182-210. http://journals.cambridge.org/action/displayIssue?jid=JEH&volumeId=68&issueId=01&iid=1740956

• Robert C. Allen (1999), “Tracking the Agricultural Revolution in England,” Economic History Review , New Series 52:2 (May), pp. 209-235 http://www.jstor.org/stable/2599937

February 8. Slavery, Serfdom and Agriculture (DeLong)

• Evsey Domar (1970), "The Causes of Slavery or Serfdom: A Hypothesis," Journal of Economic History, pp. 18-32. http://www.jstor.org/stable/i310677

• Stefano Fenoaltea (1984), “Slavery and Supervision in Comparative Perspective: A Model,” Journal of Economic History 44:3, pp. 635-668. http://www.jstor.org/stable/2124146

• Ralph Austen and Woodruff Smith (1992), "Private Tooth Decay as Public Economic Virtue: The Slave-Sugar Triangle, Consumerism, and European Industrialization," in Joseph Inkori and Stanley Engerman (eds.), The Atlantic Slave Trade: Effects on Economies, Societies, and Peoples in Africa, the Americas, and Europe , pp. 183-203. Durham, NC: Duke University Press. http://www.jstor.org/stable/1171366

• Stanley Engerman and Kenneth Sokoloff (1994), "Factor Endowments, Institutions and Differential Paths of Development among New World Economies: A View from Economic Historians of the United States," NBER Working Paper no. 10066. http://papers.nber.org/papers/h0066.pdf

February 15. The Industrial Revolution (DeLong)

• Nicholas Crafts (2002), "The Solow Productivity Paradox in Historical Perspective," CEPR Discussion Paper no.3142. http://www.j-bradford-delong.net/articles_of_the_month/pdf/Newsolow.pdf

• Robert C. Allen (2011), “Why the Industrial Revolution Was British: Commerce, Induced Invention and the Scientific Revolution,” Economic History Review 64, pp. 357-384. http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0289.2010.00532.x/pdf

• Jeffrey Williamson (1984), "Why Was British Economic Growth So Slow During the Industrial Revolution?" Journal of Economic History 44:3, pp. 687-712. http://www.jstor.org/stable/2124148

February 22. American Exceptionalism (Eichengreen)

• Peter Temin (1966), “Labor Scarcity and the Problem of American Industrial Efficiency in the 1850s,” Journal of Economic History 26, pp. 277-298. http://www.jstor.org/stable/2115648

• Kenneth Sokoloff (1984), “Was the Transition from the Artisanal Shop to the Non-Mechanized Factory Associated with Gains in Efficiency?” Explorations in Economic History 21, pp. 351-382. http://www.nber.org/papers/w1386

• Robert Fogel (1964), Railroads and American Economic Growth: Essays in Econometric History, Chapters 1 and 6, pp. 1-6 and 207-249. Baltimore MD: Johns Hopkins University Press. On reserve at Graduate Services.

• Alfred Chandler (1990), Scale and Scope, Chapter 3, pp. 47-89. Cambridge MA: Harvard University Press. On reserve at Graduate Services.

February 29. The Uneven Spread of Industrialization (DeLong)

• Tom Nicholas (2011), “The Origins of Japanese Technological Modernization,” Explorations in Economic History 48:2, pp. 272-291. http://www.sciencedirect.com/science/journal/00144983/48/2

• Justin Lin (1995), “The Needham Puzzle: Why the Industrial Revolution Did Not Originate in China,” Economic Development and Cultural Change 43:2, pp. 269-292. http://www.jstor.org/stable/i248445

• Carol Schiue and Wolfgang Keller (2004), “Markets in China and Europe on the Eve of the Industrial Revolution,” NBER Working Paper no.10778. http://www.nber.org/papers/w10778

• Indijrat Ray (2009), “Identifying the Woes of the Cotton Textile Industry in Bengal: Tales of the 19th Century,” Economic History Review 62:4, pp. 857-892. http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0289.2009.00444.x/abstract

March 7. Capital Markets (Eichengreen)

• Naomi Lamoreaux (1986), “Banks, Kinship, and Economic Development: The New England Case,” Journal of Economic History 46, pp. 647-667. http://www.jstor.org/stable/2121478

• Hugh Rockoff (1974), “The Free Banking Era: A Reexamination,” Journal of Money, Credit and Banking 6, pp. 141-167. http://www.jstor.org/stable/1991023

• Lance Davis (1965), “The Investment Market, 1870-1914: The Evolution of a National Market,” Journal of Economic History 25, pp. 355-393. http://www.jstor.org/stable/2116175

• Gareth Campbell and John D. Turner (2011), “Substitutes for Legal Protection: Corporate Governance and Dividends in Victorian Britain,” Economic History Review 64:2, pp. 571-597. http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0289.2010.00545.x/abstract

• Jeremy Edwards and Sheilagh Ogilvie (1996), “Universal Banks and German Industrialization: A Reappraisal,” Economic History Review 49:3, pp. 427-446. http://onlinelibrary.wiley.com/doi/10.1111/j.1468-0289.1996.tb00576.x/abstract

March 14. Labor Markets (Eichengreen)

• Sanford Jacoby (1984), “The Development of Internal Labor Markets in American Manufacturing Firms,” in Paul Osterman (ed.), Internal Labor Markets, pp. 23-69. Cambridge, MA: MIT Press. On reserve at Graduate Services.

• Susan Carter and Elizabeth Savoca (1990), “Labor Mobility and Lengthy Jobs in 19th Century America,” Journal of Economic History 50, pp. 1-16. http://www.jstor.org/stable/2123435

• John James (1994), “Job Tenure in the Gilded Age,” in George Grantham and Mary McKinnon (eds.), Labour Market Evolution, pp. 185-204. London: Routledge. On reserve at Graduate Services.

• Joshua Rosenbloom (1990), “One Market or Many? Labor Market Integration in the Late-19th Century United States,” Journal of Economic History 50, pp. 87-107. http://www.jstor.org/stable/2123439

• Joshua Rosenbloom (2002), “Employment Agencies and Labor Exchanges: The Impact of Intermediaries in the Market for Labor,” in Joshua Rosenbloom, Looking for Work, Searching for Workers: American Labor Markets during Industrialization, Chapter 3, pp. 46-79. Cambridge, MA: Cambridge University Press. On reserve at Graduate Services.

March 21. Globalization and Crisis (DeLong)

• Richard Baldwin and Philippe Martin (1999), “Two Waves of Globalization: Superficial Similarities, Fundamental Differences,” NBER Working Paper no.6904 (January). http://www.nber.org/papers/w6904

• Douglas Irwin (1998), “Did Late Nineteen Century U.S. Tariffs Promote Infant Industries? Evidence from the Tinplate Industry,” NBER Working Paper no. 6835 (December). http://www.nber.org/papers/w6835

• Barry Eichengreen and Michael Bordo (2002), “Crises Now and Then: What Lessons from the Last Era of Financial Globalization?” NBER Working Paper no. 8716 (January). http://www.nber.org/papers/w8716

April 4. International Money and Finance (Eichengreen)

• Arthur Bloomfield (1959), Monetary Policy under the International Gold Standard, pp. 1-62. New York, Federal Reserve Bank of New York. On reserve at Graduate Services.

• Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression, 1919-1939, Chapter 2, pp. 29-66. New York: Oxford University Press. On reserve at Graduate Services.

• Hugh Rockoff (1984), “Some Evidence on the Real Price of Gold, Its Costs of Production and Commodity Prices,” in Michael Bordo and Anna J. Schwartz (eds.), A Retrospective on the Classical Gold Standard,” pp. 613-650. Chicago: University of Chicago Press. http://ideas.repec.org/h/nbr/nberch/11139.html

• Albert Fishlow (1985), “Lessons from the Past: Capital Markets During the 19th Century and the Interwar Period,” International Organization 39, pp. 383-439. http://journals.cambridge.org/action/displayFulltext?type=1&pdftype=1&fid=4281908&jid=INO&volumeId=39&issueId=03&aid=4281900

• Juan-Huitzi Flores (2007), “Lending Booms, Underwriting and Competition: The Baring Crisis Revisited,” Working Paper in Economic History 07/01, Department of Economic History and Institutions, Universidad Carlos III de Madrid (January). http://docubib.uc3m.es/WORKINGPAPERS/WH/wp07-01.pdf

April 11. Origins of the Great Depression (Eichengreen)

• Milton Friedman and Anna Schwartz (1963), A Monetary History of the United States, 1867-1960, Chapter 13, pp. 676-700. Princeton: Princeton University Press. On reserve at Graduate Services.

• Christina Romer (1990), "The Great Crash and the Onset of the Great Depression," Quarterly Journal of Economics 104, pp. 719-736. http://www.jstor.org/stable/10.2307/2937892

• Ben Bernanke (1983), "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression," American Economic Review 73:3, pp. 257-276. http://www.jstor.org/stable/1808111

• Ben Bernanke (1995), “The Macroeconomics of the Great Depression: A Comparative Approach,” Journal of Money, Credit and Banking 27:1, pp. 1-28. http://www.jstor.org/stable/i336266

April 18. Recovery from the Great Depression (Eichengreen, with a possible cameo appearance by C. Romer)

• Barry Eichengreen (1992), Golden Fetters: The Gold Standard and the Great Depression 1919-1939, Chapter 1, pp. 3-28. New York: Oxford University Press. On reserve at Graduate Services.

• Christina Romer (1992), “What Ended the Great Depression?” Journal of Economic History 52, pp. 757-784. http://www.jstor.org/stable/2123226

• Gauti Eggertsson (2008), “Great Expectations and the End of the Great Depression,” American Economic Review 98:4, pp. 1476-1516. http://www.jstor.org/stable/i29730117

• Harold Cole and Lee Ohanian (2004), “New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis,” Journal of Political Economy 112:4, pp. 779-816. http://www.jstor.org/stable/10.1086/jpe.2004.112.issue-4

April 25. The Great Divergence, the Great Moderation and the Great Recession (DeLong, with a possible cameo appearance by C. Romer)

• Lant Pritchett (1997), "Divergence, Big Time," Journal of Economic Perspectives 11:3 (Summer), pp. 3-17. http://www.jstor.org/stable/2138181

• Raghuram Rajan (2005), “Has Financial Development Made the World Riskier?” in Proceedings of Jackson Hole Symposium, pp. 313-369. Federal Reserve Bank of Kansas City. http://ideas.repec.org/a/fip/fedkpr/y2005iaugp313-369.html

• Ben Bernanke (2004), “The Great Moderation,” Speech to a meeting of the Eastern Economic Association, Washington, DC (20 February). http://www.federalreserve.gov/boarddocs/speeches/2004/20040220/default.htm

• Robert E. Hall (2010), “Why Does the Economy Fall to Pieces after a Financial Crisis?” Journal of Economic Perspectives 24, pp. 3-20. http://www.aeaweb.org/articles.php?doi=10.1257/jep.24.4.3