and landowners). Industrialization requires the elites to finance schools and the masses to attend them. Schooling raises … dominant elite at the regional and country level is the same and/or the industrialization shock is sufficiently high. If … 19th century France and Spain. …

intensive forms of industry. Hamilton`s analyses of price and wage data for 16th- and 17th-century Spain, France, and England … led him to conclude that: Spain had enjoyed virtually no profit inflation, since wages had generally kept pace with prices … national economic experiences helps to explain, in Hamiltonś view, why Spain subsequently declined, while England became the …