"Between 1800 and 1860, the United States became the preeminent world supplier of cotton as output increased sixty …-fold. Technological changes, including the introduction of improved cotton varieties, contributed significantly to this growth. Measured … output per worker in the cotton sector rose four-fold and large regional differences emerged. By 1840, output per worker in …

a wealth transfer and these accounted for about a quarter of their net worth. Over the lifetime, about 30 percent of … households could expect to receive a wealth transfer and these would account for close to 40 percent of their net worth near time … in the SCF reporting a wealth transfer fell by 2.5 percentage points. The average value of inheritances received among …