Estimates are developed of the major macroeconomic aggregates wages, land rents, interest rates, prices, factor shares, sectoral shares in output and employment, and real wages for England by decade between 1209 and 2008. The efficiency of the economy 1209-2008 is also estimated. One finding is...

The English Old Poor Law, which before 1834 provided welfare to the elderly, children, the improvident, and the unfortunate, was a bête noire of the new discipline of Political Economy. Smith, Bentham, Malthus and Ricardo all demanded its abolition. The Poor Law Amendment Act of 1834, drafted...

Occupations listed in wills reveal that as early as 1560 effectively only 60% of the English engaged in farming. Even by 1817, well into the Industrial Revolution, the equivalent primary share, once we count in food and raw material imports, was still 52%. By implication, incomes in...

English fertility history is generally regarded as having been composed of two re-gimes: an era of unregulated marital fertility, from at least 1540 to 1890, then the modern era, with regulated marital fertility, lower for higher social classes. We show there were in fact three fertility regimes...

This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern business cycle: financial-crisis...