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This article analyzes a large quantity of new data documenting the actual characteristics and behavior of early reaper adopters. It shows that a surprisingly large number of small-scale farmers were among the early purchasers and that institutional evolution—the emergence of local markets and cooperative exchanges for reaper services—encouraged rapid diffusion. These findings call into question the standard interpretation of northern farms as self-contained production units and, more specifically, challenge the usefulness of both the farm-specific-threshold model and the family-labor-constraint model.

During the nineteenth century, U.S. manufacturers shifted away from the "hand labor" mode of production, characteristic of artisan shops, to "machine labor," which was increasingly concentrated in steam-powered factories. This transition fundamentally changed production tasks, jobs, and job requirements. This paper uses digitized data on these two production modes from an 1899 U.S. Commissioner of Labor report to estimate the frequency and impact of the use of inanimate power on production operation times. About half of production operations were mechanized; the use of inanimate power raised productivity, accounting for about one-quarter to one-third of the overall productivity advantage of machine labor. However, additional factors, such as the increased division of labor and adoption of high-volume production, also played quantitatively important roles in raising productivity in machine production versus by hand.

Frontmatter -- Relation of the Directors to the Work and Publications of the NBER -- Contents -- Preface -- Chapter 1. Robert Gallman's Capital Stock Project -- Chapter 2. Gallman's Core Capital Stock Data -- Chapter 3. The United States Capital Stock, 1840–1900 -- Chapter 4. Capital and American Economic Growth, 1774–1980 -- Chapter 5. Gallman's Annual Product Series, 1834–1909 -- Chapter 6. Investment Flows and Capital Stocks -- Chapter 7. Agriculture -- Chapter 8. Mining and Manufacturing -- Chapter 9. Nonfarm Real Estate and Trade -- Chapter 10. Transportation -- Chapter 11. Communication and Electric Utilities -- Chapter 12. Inventories -- Chapter 13. Consumer Durables -- Chapter 14. Wealth in the Colonial and Early National Periods -- Chapter 15. Wrapping Up -- Notes -- References -- Index

The boll weevil is America's most celebrated agricultural pest. We analyze new county-level panel data to provide sharp estimates of the time path of the insect's effects on the southern economy. We find that in anticipation of the contact, farmers increased production, attempting to squeeze out one last large crop. Upon arrival, the weevil had a large negative and lasting impact on cotton production, acreage, and especially yields. In response, rather than taking land out of agricultural production, farmers shifted to other crops. We also find striking effects on land values and population movements.

This book challenges the static, ahistorical models on which Economics continues to rely. These models presume that markets operate on a "frictionless" plane where abstract forces play out independent of their institutional and spatial contexts, and of the influences of the past. In reality, at any point in time exogenous factors are themselves outcomes of complex historical processes. They are shaped by institutional and spatial contexts, which are "carriers of history," including past economic dynamics and market outcomes. To examine the connections between gradual, evolutionary change and more dramatic, revolutionary shifts the text takes on a wide array of historically salient economic questions-ranging from how formative, European encounters reconfigured the political economies of indigenous populations in Africa, the Americas, and Australia to how the rise and fall of the New Deal order reconfigured labor market institutions and outcomes in the twentieth century United States. These explorations are joined by a common focus on formative institutions, spatial structures, and market processes. Through historically informed economic analyses, contributors recognize the myriad interdependencies among these three frames, as well as their distinct logics and temporal rhythms