New Perspectives on the Late Victorian Economy

This book reveals the relevance of the Victorian economy as a model for contemporary society by using quantitative methods to explain its true nature and performance. The essays, covering the period 1870-1914, are of three types: some establish accepted conclusions more firmly by deploying new evidence or methods; others deal with unwarrantedly neglected aspects of the subject; and the third category reassesses traditional views. The book also includes a very substantial introduction placing the contributions in the context of contemporary debates, brief introductions to each section containing elementary economic analysis of the following themes, and a glossary of technical terms to enhance accessibility.

List of contributors; List of figures; List of tables; Preface; 1. Quantitative analysis of the Victorian economy James Foreman-Peck; Part I. Technology and Industrial Organisation: 2. Historical trends in international patterns of technological innovation John Cantwell; 3. Railways and late Victorian economic growth James Foreman-Peck; 4. Emergence of gas and water monopolies in nineteenth-century Britain: contested markets and public control Bob Milward; 5. The expansion of British multinational companies: testing for managerial failure Stephen Nicholas; Part II. Distribution: 6. A new look at the cost of living 1870-1914 Charles Feinstein; 7. Poor law statistics and the geography of economic distress Humphrey Southall; 8. Perfect equilibrium down the pit John G. Treble; Part III. The Monetary System and Monetary Policy: 9. Money, interest rates and the Great Depression: Britain from 1870 to 1913 Forrest H. Capie, Terence C. Mills and Geoffrey E. Wood; 10. The UK demand for money, commercial bills and quasi-money assets, 1871-1913 Paul Turner; 11. An analysis of Bank of England discount and advance behaviour 1870-1914 Tessa Ogden; Index.