Monday, December 12, 2016

Testing the high-wage economy hypothesis

I was reading "Global Economic History: A Very Short Introduction", where the high-wage economy thesis is introduced. Seemed perfectly reasonable and intuitive to me. But, here's a good article on that topic:

Notes on Liberty - testing the HWE hypothesis.

Unfortunately, too much of it boils down to the unfortunate fact that the historical data is so bad, whatever facts we may apply to the question are drowning in thick bands of noise.

Sorry I haven't been posting for a while, btw: I was (and still am, but not as much) busy with exams.

The book above is very good btw.

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