scholarly journals The Statistics of Wages in the Nineteenth Century. Part XIX.--The Cotton Industry. Section V. Changes in the Average Wage of all Employed, with some Account of the Forces Operating to Accelerate or Retard the Progress of the Industry

1910 ◽  
Vol 73 (6/7) ◽  
pp. 585 ◽  
Author(s):  
George Henry Wood
Keyword(s):  
Nineteenth Century ◽  
Average Wage ◽  
Cotton Industry ◽  
Industry Section

The End of the Niche Economy

2017 ◽  
Author(s):  
Michael R. Cohen
Keyword(s):  
Nineteenth Century ◽  
Invasive Species ◽  
Competitive Advantage ◽  
Structural Changes ◽  
Global Capitalism ◽  
Late Nineteenth Century ◽  
Cotton Industry ◽  
The World ◽  
Late Nineteenth ◽  
Anti Jewish

Chapter 6 explores the end of the niche economy. By the late nineteenth century, changes to the cotton industry meant that merchants in the Gulf South were no longer as important as they once were. Structural changes to global capitalism, including the rise of investment banking, changed the nature of credit and lending, as networks of trust, which once provided a competitive advantage for Jews and other minorities, began to lose their importance. Additional global forces also mitigated the Gulf South’s centrality in the cotton industry, as the world’s thirst for cotton pushed European powers to find cheaper places in the world to produce cotton. Localized factors were also marginalizing the Gulf South and its Jewish merchants, as floods and invasive species ravaged cotton crops and a spate of anti-Jewish violence took direct aim at the Jewish niche economy. All of this meant that, in much the same manner that Jewish merchants had once marginalized cotton factors, Jewish merchants themselves became marginalized, and their niche economy came to an end.

The Incomes of the Plutocrats in a Comparative Perspective

2021 ◽  
pp. 152-171
Author(s):  
Francis Teal
Keyword(s):  
Nineteenth Century ◽  
Income Distribution ◽  
Comparative Perspective ◽  
Average Wage ◽  
Male Character ◽  
Pride And Prejudice ◽  
The Us ◽  
The Rich ◽  
The Uk

We now move to examine the top of the income distribution and begin by asking whether Mr Darcy, the central male character in Jane Austen’s novel Pride and Prejudice, would be regarded as a plutocrat today. If his income were converted to contemporary amounts it would be some £600,000. We show that Mr Darcy would need to earn some £8 million to be as rich as his nineteenth-century predecessor relative to the average wage. To understand how those super-high incomes arise, we introduce the Paretian distribution which we do first informally and then more formally. It is a distribution of this form which could produce what we see, a few very highly paid individuals whose incomes—up in the stratosphere of the super-rich—would still be very spread out. We use the Paretian distribution to estimate the number of plutocrats in the US, the UK, and China and show the incomes of the richest of the rich.

Intra-Asian Competition and Collaboration against the West: The N.Y.K. Bombay Line, Tata & Sons, and Indian Cotton at the End of the Nineteenth Century

2018 ◽  
Vol 6 (2) ◽  
pp. 277-293
Author(s):  
Shigeru Akita
Keyword(s):  
Nineteenth Century ◽  
Twentieth Century ◽  
Rapid Development ◽  
Colonial Rule ◽  
Chinese Market ◽  
The West ◽  
Cotton Industry ◽  
Export Industry ◽  
British Raj ◽  
Economic Exploitation

Abstract The traditional and orthodox interpretation of the British Raj (colonial rule in India) characterizes it in terms of the economic exploitation of India. However, recent historical studies have focused on the revival or development of the Indian cotton industry at the turn of the twentieth century. This article pays special attention to the rapid development of the Indian cotton-spinning industry as an export industry for the Chinese market and its implications for intra-Asian competition.

scholarly journals The Neglected Legacy of Lancashire Cotton: Industrial Clusters and the U.K. Outdoor Trade, 1960–1990

2005 ◽  
Vol 6 (4) ◽  
pp. 682-709 ◽  
Author(s):  
Mike Parsons ◽  
Mary B. Rose
Keyword(s):  
Nineteenth Century ◽  
High Performance ◽  
Innovation Process ◽  
Industrial Clusters ◽  
Second World War ◽  
World War ◽  
Cotton Industry ◽  
Knowledge And Skills ◽  
The Impact ◽  
Second World

This article considers the neglected legacies of the Lancashire cotton industry and their impact on the U.K. outdoor trade. Studies of the decline of the Lancashire cotton industry after the Second World War have concentrated on the collapse of coarse cotton spinning and weaving, largely ignoring the impact of the knowledge and skills related to the finishing trades. The examination of the evolution of rainwear, coatings, and high-performance fabrics in the nineteenth century provides a backdrop to a study of the innovation process that emerged in the U.K. outdoor trade after 1960.

scholarly journals Liverpool and the Raw Cotton Trade:  A Study of the Port and its Merchant Community, 1770-1815

2021 ◽  
Author(s):  
◽  
Alexey Krichtal
Keyword(s):  
United States ◽  
Nineteenth Century ◽  
West Indies ◽  
The United States ◽  
The West ◽  
Cotton Industry ◽  
Major Region ◽  
The Right ◽  
Merchant Community ◽  
Cotton Trade

<p>This thesis examines the port of Liverpool, its merchant community, and the growth of the raw cotton trade from its initial rise c. 1770 to the end of the Napoleonic period in 1815. By constructing a large database from Liverpool import lists published in Lancashire newspapers, combined with surviving cotton planter, merchant, and manufacturer papers, this thesis analyses: first, the rise of Liverpool as a major British cotton port and the geographical shifts in the port‘s cotton supply from the West Indies to Guyana, Brazil, and the United States; then second, the organisation of Liverpool‘s cotton trade in the Atlantic basin and at home. The port‘s cotton trade and the form of cotton procurement developed out of the pre-existing trading conditions prior to the cotton boom between Liverpool and each cotton cultivation region, and underwent major re-organisation in the early nineteenth century. Liverpool‘s cotton trade attracted new merchants who specialised in the import-export trade with one major region. Therefore, as cotton cultivation expanded from the West Indies to northern South America and the southern United States, the Liverpool market underwent a de-concentration from an oligopoly in the hands of few large cotton merchants to a more competitive market with many cotton importers. Ultimately, greater specialisation of Liverpool‘s cotton merchant and brokerage community resulted in increased efficiency in the importing, marketing, and selling of cotton on the British market, while a de-concentration of the Liverpool market provided the right market conditions to ward off artificially high prices, fostering the development of a cheap supply of raw cotton needed to sustain industrialisation of the British cotton industry in the nineteenth century.</p>

Competition, Specialization, and Industrial Decline

1981 ◽  
Vol 41 (1) ◽  
pp. 31-38 ◽  
Author(s):  
William Lazonick
Keyword(s):  
United States ◽  
Nineteenth Century ◽  
Industrial Organization ◽  
The United States ◽  
Cotton Industry ◽  
Intense Competition ◽  
Industrial Decline

The technological backwardness of the British cotton industry in the first six decades of this century was due primarily to the structure of industrial organization, characterized by intense competition and specialization, that had developed in the nineteenth century when the industry had no serious international competitors. But with the rise of corporate economies, particularly in Japan and the United States, this structure of industrial organization rendered British cotton managers powerless to create the corporate structures required to meet this challenge. Britain's decline was due to the failure of its managers to create conditions for new profitable opportunities by altering the constraints that they faced.

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