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Books > Business & Economics > Economics
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Capital in the Nineteenth Century (Hardcover)
Loot Price: R1,895
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Capital in the Nineteenth Century (Hardcover)
Series: National Bureau of Economic Research Series on Long-Term Fac
Expected to ship within 12 - 17 working days
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When we think about history, we often think about people, events,
ideas, and revolutions, but what about the numbers? What do the
data tell us about what was, what is, and how things changed over
time? 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 placed 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--on a
strong empirical foundation. Gallman's research was painstaking and
his analysis meticulous, but he did not publish the material
backing to his findings in his lifetime. Here Paul W. Rhode
completes this project, giving permanence to a great economist's
insights and craftsmanship. Gallman's data speak to the role of
capital in the economy, which lies at the heart of many of the most
pressing issues today.
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