Industrialism commonly functions as an engine of financial growth, but it doesn’t constantly create increasing revenues for most individuals. The background of the leading capitalist economic situations– the UK and the USA– over the last four centuries splits right into 4 phases. In two of them, industrialism ‘works’ as earnings in basic increased at the exact same price as outcome per worker, while in the other 2 durations the void between low and high wage work took off and the average wage stagnated even though result per worker was increasing. These lengthy cycles are mapped back to the interaction between technical change, the labour market, and globalization.
Concerning the Speaker
Robert Allen – Global Distinguished Professor of Economic History at New York University, Abu Dhabi. He has written on English agricultural background, worldwide competition in the steel market, the extinction of whales, the global history of salaries, rates, and living standards, and also modern policies on education, including in relation to Soviet financial history. Bob Allen was the head of state of the Economic History Association in 2012-2013.
Moderator: Andrei Markevich, NES Professor