The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show...

The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show...

By 1860 the South ranked high among the developed countries of the world in per capita income and life expectancy and in the number of railroad miles, telegraph lines, and institutions of higher learning. Only the major European powers and the North had more cotton and woolen spindles. This book...