MEASURING INEQUALITY TRENDS IN COLONIAL AUSTRALIA USING FACTOR–PRICE RATIOS: THE IMPORTANCE OF BOUNDARIES |
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Authors: | Martin P. Shanahan John K. Wilson |
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Affiliation: | University of South Australia |
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Abstract: | Previous research on nineteenth century globalisation argues that during the second half of that century wage–rental ratios in labour scarce, land-abundant new world economies decreased. This suggests inequality rose in the new world. Australia has been cited as a conspicuous example of this trend. The paper re-examines this argument using disaggregated land and wage data for four Australian colonies. We reveal large regional differences in both factor–price levels and trends – something that has been overlooked when discussing Australian colonial inequality and we suggest that regional disparities in other nineteenth century economies are also likely to be important. |
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Keywords: | N30 N37 N97 |
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