The U.S. GDP per capita growth rate from 1789 through the early 1900s was
around 1.2 percent annually. The GDP per capita growth rate since the great
depression has been about twice that (2.4 percent annually). What caused
this change? - View Answer

Where would I find the following comparisons:

Given the average (or median) wage per hour in 1955, and given the average
(or median) cost of a refrigerator (or car, dishwasher or other consumer
product) in 1955, how many hours did the average wage-earner have to work in
1955 to earn the price of a refrigerator/car/gallon of gas compared to that
same question for today.

In plain English, does the average worker today have to work fewer (or more)
hours to earn enough to buy standard consumer products? I understand that
this may be difficult because today's products usually have substantially
more safety and environmental features, but still it would be interesting to
see some baseline comparisons.

Of interest would be a location that provided this information for a variety
of products and services, and for a variety of years. - View Answer

Maybe you can help me. I am in the process of writing a paper (later on a book)
on the cost of international courts and tribunals. I am a legal scholar and not
an economist so you'll excuse if what I ask you might seem to be trivial.

I need to translate to current US dollar figures (for comparison sake with
current international courts and tribunals) the following statements:

"From 1922 to 1940, the budget of the Permanent Court of International Justice
ranged from 900,000 to 1,330,000 dutch florins, the actual expenditures being
from 600,000 to 1,200,000 florins. In twenty years the court's expenses
totalled about $10,000,000"

"The 1938 League of Nations budget was 37,000,000 Swiss francs."

"The 1907 Convention establishing the Central American Court of Justice provided
that each judge should receive a salary of 8,000 gold dollars (Costa Rican pesos).
It was also provided that each State should also pay 2,000 gold dollars (Costa
Rican pesos) annually for the expenses of the Court".

Specifically, I need to know what was the value in current dollar terms of a
gold dollar (Costa Rican peso) in the period 1908-1918. That will help me work
out the answer to a number of other questions - View Answer

Over the last 25 years what has been the academic preparation for winners of
Nobel Laureates Prize in Economics? Such as economics, mathematics,
finance, etc. - View Answer

I heard on the radio that the cost of fighting the Iraq War was actually pretty low.
The commentator said that it was about the same cost as the Whiskey Rebellion.
Is this for real? - View Answer

Lawrence Officer states that Australia left the gold standard in 1930.
However, Barry Eichengreen stated that Australia left the gold standard
in December 1929.
Can you answer me which is the right answer (or even if, as was the case
with Canada, Australia left de facto the gold standard in december 1929
and formalised it in 1930). - View Answer

I saw an article where a Scottish Economist calculated World GDP since time of Christ and wondered how that could possibly be done. - View Answer

Is deflation bad for the economy? - View Answer

I'm a physicist working on a mathematical model of a financial market. In the model I'm elaborating, agency rationality is neither mentioned nor used. All the analysis is based on physical/behavioral quantities. The main argument is that this model is closer to the heuristics of physics for it works with objects (the material acts) rather than with subjects (the "preference orderings" of agents). It is therefore not compatible with the orthodox interpretation of economics, which presupposes rational utility-maximizing agents as being the fundamental components of the system (a different approach, not necessarily a better one). What I need to know is whether the hypothesis of rationality in the neoclassical sense (an ahistoric, asocial definition) is compatible with the "exact" sciences. Is this idea of rationality falsifiable within the methodology of Economics? Is this definition a sound foundation to build a "science of complexity"? Any references would be of great help.
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Apparently there were some disputes between Jonathan Edwards and his Northampton parishoners over the amount of his salary, especially in 1748, when it was reported to be 700 pounds for living with an additional 170 pound allowance for books. His salary in 1726 was reported to be 100 pounds. When I tried to translate these amounts into today's dollars (1991 dollars, due the books I had), I came up with ridiculously low amounts, such as $2710 for 1726 and $8409 for 870 Massachusetts pounds in 1748. Could you please help me to figure these out right? Apparently both Edwards' congregation and Edwards himself said he was one of the highest paid ministers at the time, and he had a high standard of living; thus, those figures seem very unrealistic. - View Answer

Everyone seems to know the quote which dismisses the History of Economics as "wrong opinions of dead men", but nobody I've asked so far has an exact source. Is it just folklore or can you give a reference? - View Answer

I want to set out a list of various jobs, professions i.e. Doctors, teachers, policemen, skilled tradesmen, farm workers, office workers etc and set out their average wage / salary. I would like to do this from 1940 to present day. Similarly I want to take a cross section of goods / services and tabulate their costs over the same period. Things like bread, milk, beer, cigarettes, houses, travel, cinema tickets, entry to football matches,TV, clothing etc. From these it should be interesting to relate how much things 'really cost' in terms of proportion of income.
Can you suggest any useful sites or related reading matter? - View Answer

Where can I discover just when Britain began using bank notes? And what were the denominations issued? I'm particularly interested in finding out this information pertaining to the years 1800- 1827. - View Answer

Where can I find information/articles regarding the parallels between the recent "Dot com" economic cycle and that of similar cycles historically, particularly that of 1720s England, which I am told is remarkably similar? - View Answer

We are writing a report on human development in Bolivia, and we are trying to place Bolivia's current political economy in historical perspective.

We are therefore interested in the concept of historical cycles, ie. what marks the beginning and the end of a historical period within the field of economic history, how economic historians define and determine historical periods, and whether it is possible to observe the transition from one period to another while the transition is taking place. - View Answer

Where can I find cliometricians that focus on Latin American Economic
History of the last 100 years? I'm interested in compiling a list of those scholars. I find that most cliometricians focus on U.S. Economic History or European Economic History. The few who look at Latin America follow the Colonial period. I would like to get in touch with scholars in different universities who look at the more modern period. - View Answer

I'm looking for some information about the economic history of Iceland. - View Answer

I am trying to demonstrate with data that technology is good for society, and
therefore investments in technology should be supported by the government.
The benchmark is the US. In your opinion, which economic (technological or not) milestones in the last 150 years have led the US to become the first economic power of the world? - View Answer

I have various trade values from 1900 that I would like to express in current money. The figures are in British Pounds Sterling, but I need current values in US Dollars.

What I have done is to take the historical values from the EH.NET web site at http://eh.net/hmit/ and update it to year 2000. So one Pound from 1900 has the purchasing power of 61.03 Pounds now. Then I converted these current Pound values to US Dollars at the today's exchange rate of $1.40 per Pound and get $85.44.

This all seemed fine until I tried it the other way. That is, the exchange rate in 1900 was a Pound was worth $4.87, and present purchasing power of a 1900 dollar is $20.39. This would mean a 1900 British pound has the same purchasing power as $99.30 today.

Have I used the right methodology? - View Answer

I am looking for prices of everyday products and services for each five years starting with 1970. I would like to include food, cars, clothing, tractors, etc. I am comparing these with agricultural commdity prices to show different rates of inflation. If you can be of any help it would be greatly appreciated. - View Answer

Do you know who said the following: "A change in bank rate can call money from the other side of the moon"?
- View Answer

In old books and movies set in Britain, the price for items in a store will be stated "X and Y," where X and Y are two, typically low, whole numbers. For example, when asked the cost of a few groceries the clerk will say the price is "3 and 2." What do these numbers refer to? - View Answer

I wish to construct a time series charting the estimates of the neo-classical rates of exploitation of slave workers as done by Fogel & Engerman in "Time on the Cross." The period that I am studying is between 1830-1865, and I wish to break down the exploitation rates and study changes which take place in the rate at intervals of 5 years. I cannot seem to find the requisite data and would be grateful if you kindly point out what sources I should look at.
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What was the main cause of the stock market crash of 1929? I am trying to prove that it was the panic of the investors. If possible, please give me sources that agree/disagree with my theory.
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I found your web-site today and had a quick look at the FAQ's and wasn't able to find the answer I was looking for. I'm a law student and as part of my 3rd year options I chose to do a 'history of economic thought' option which focuses on Smith, Marx and Keynes (but also covers Ricardo, Hume, Marshall, Hicks and a few others). My previous experience of Economics as a subject only extends as far as A level economics. I was wondering if you may be able to recommend a book that succinctly sets out the main aspects of each theory studied which I would be able to build on with further reading. I am not trying to avoid doing the work, merely trying to make the work I do more efficient. The textbook we are recommended to read is Blaug's 'Economic thought in retrospect', but I find this quite heavy going without any prior knowledge.

I have approached my tutor about this and I think it may be useful to tell you what he said: I asked him what he thought of 'a History of economic thought' by William J. Barber as I felt this 'penguin publication' was exactly what I needed to get a grasp for the subject. However he said parts of it were inaccurate and that I should not rely on it. My second question is: Do you agree with my tutor that it is unreliable? He recommended 'Economists and the economy' by Roger Backhouse. However I have had a look at this and it is very superficial in its coverage of the economists that I am studying.

I also had a look at 'an outline of the History of Economic Thought' by Screpanti and Zamagni and it seems more what I am looking for, and yet I am reluctant to rely on it too heavily in case it is similarly inaccurate. My third question is: If you are familiar with the book, would you be able to advise me as to how reliable you think it is.
- View Answer