The British Industrial Revolution triggered a reversal in the social order whereby the landed elite was replaced by industrial capitalists rising from the middle classesas the economically dominant group. Many observers have linked this transformation to the contrast in values between a...

We investigate the positive and normative consequences of child-labor restrictions foreconomic aggregates and welfare. We argue that even though the laissez-faire outcome maybe inefficient, there are usually better policies to cure these inefficiencies than the impositionof a child-labor ban...

The British Industrial Revolution triggered a reversal in the social order wherebythe landed elite was replaced by industrial capitalists rising from the middle classes as the economically dominant group. Many observers have linked this transformation to the contrast in values between a...