The Cambridge Economic History of Europe: The Industrial Economies: Capital, Labour and Enterprise: The United States, Japan and Russia

600 Pages·1978·34.44 MB·English

by  Peter Mathias

THE
CAMBRIDGE
ECONOMIC HISTORY
GENERAL EDITORS: M. M. POSTAN, Professor Emeritus of
Economic History in the University of Cambridge; D. C. COLEMAN,
Professor of Economic History in the University of Cambridge;
and PETER MATHIAS, Chichele Professor of Economic History in
the University of Oxford
VOLUME VII, PART 2
Cambridge Histories Online © Cambridge University Press, 2008
Cambridge Histories Online © Cambridge University Press, 2008
THE
CAMBRIDGE
ECONOMIC HISTORY
OF EUROPE
VOLUME VII
THE INDUSTRIAL ECONOMIES
CAPITAL, LABOUR, AND
ENTERPRISE
PART 2
THE UNITED STATES,
JAPAN, AND RUSSIA
EDITED BY
PETER MATHIAS
Chichele Professor of Economic History
in the University of Oxford,
and Fellow of All Souls College
AND
M. M. POSTAN
Professor Emeritus of Economic History
in the University of Cambridge,
and Fellow of Peterhouse
CAMBRIDGE UNIVERSITY PRESS
CAMBRIDGE • LONDON • NEW YORK • MELBOURNE
1978
Cambridge Histories Online © Cambridge University Press, 2008
Published by the Syndics of the Cambridge University Press
The Pitt Building, Trumpington Street, Cambridge CB2 IHP
Bentley House, 200 Euston Road, London NWI 2DB
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© Cambridge University Press 1978
First published 1978
Printed in Great Britain
by the Anchor Press Tiptree, Essex
Library of Congress Cataloguing in Publication Data (Revised)
Main entry under title:
The Cambridge economic history of Europe from the decline
of the Roman empire.
Includes bibliographies and indexes.
Vol. 2 planned by Sir John Clapham and Eileen Power,
edited by M. Postan and E. E. Rich.
CONTENTS: v. 1. The agrarian life of the middle ages.
v. 2. Trade and industry in the middle ages.
v. 3. Economic organization and policies in the middle ages.
1. Europe - Economic conditions. 2. Europe - History.
I. Clapham, Sir John Harold, 1873-1946, ed.
II. Power, Eileen Edna, 1889-1940, joint ed.
HC240.C3 33O-9'4 41-3509
ISBN o 521 21590 o part 1
ISBN o 521 21591 9 part 2
ISBN o 521 21124 7 the set of two parts
Cambridge Histories Online © Cambridge University Press, 2008
CONTENTS
List of Tables page ix
List of Illustrations xiii
THE UNITED STATES
CHAPTER I
Capital Formation in the United States during the
Nineteenth Century
By LANCE E. DAVIS, Professor of Economics, California Institute of
Technology, and
ROBERT E. GALLMAN, Professor of Economics, University of
North Carolina at Chapel Hill
I Introduction page I
II Analytical Models 3
III Contribution of Capital Formation to Economic Growth 7
IV Increase in the Capital-Output Ratio 14
V Savings 34
VI The Savings-Investment Process: Some Analytical Con-
siderations and Historical Realities 54
VII Financial Intermediation 59
VIII Conclusions 65
CHAPTER II
The United States: Evolution of Enterprise
By ALFRED D. CHANDLER, JR, George Straus Professor of Business History,
Harvard University
I Introduction: Modern Business Enterprise 70
II The Specialization of Traditional Enterprise: 1790s to
1840s 73
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VI CONTENTS
III The Rise of Modern Enterprise: 1840s to the First World
War page 85
IV Modern Business Enterprise since the First World War 120
V Conclusion 131
JAPAN
CHAPTER III
Capital Formation in Japan
By KAZUSHI OHKAWA, Professor Emeritus of Economics, Hitotsubashi
University, and
HENRY ROSOVSKY, Professor of Economics, Harvard University
I Introduction 134
II The Pre-Modern Background 135
III The Meiji Restoration and Its Aftermath 141
IV Twentieth-Century Japan: The Economics of Trend
Acceleration 150
V An Interpretation 161
CHAPTER IV
Factory Labour and the Industrial Revolution in Japan
By KOJI TAIRA, Professor of Economics, University of Illinois
I Introduction 166
II The Preconditions for Factory Labour, 1850-90 169
III Factory Labour, 1890-1910 179
IV The Emergence of Japanese-Style Management 195
V Conclusion 213
CHAPTER V
Entrepreneurship, Ownership,
and Management in Japan
By Kozo YAMAMURA, Professor of Economics, University of Washington
I Introduction 215
II The Rise and Composition of Japanese Entrepreneurship 217
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CONTENTS Vll
III Ownership and Control page 238
IV The Managerial System 254
V Conclusion 260
RUSSIA
CHAPTER VI
Capital Formation during the Period of Early
Industrialization in Russia, 1890-1913
ByARCADius KAHAN, Professor of Economics, University of Chicago
I General Characteristics 265
II Some Empirical Results 275
III Summary 289
IV Postscript 290
Statistical Appendix 296
CHAPTER VII
Labour and Industrialization in Russia
By OLGA CRISP, Reader in Economic History, School of Slavonic and
East European Studies, University of London
I Introduction 308
II Industrial Labour in the 'Proto-Industrial' Age 310
III Wage Employment 330
IV Changes in the Structure and Distribution of Labour 351
V Rural Origins and Affiliations 362
VI The Adaptation of Labour in Industry 375
VII The Role of Education 387
VIII Changes in the Productivity of Labour 399
IX Wages and Earnings 404
X Conclusion 413
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Vlll CONTENTS
CHAPTER VIII
Russian Entrepreneurship
By M. C. KASER, Reader in Economics, and Fellow of St Antony's College,
Oxford
I Entrepreneur or Manager? page 416
II Limits to Enterprise in Pre-Petrine Russia 423
III The Impetus from Peter the Great 432
IV State-Led and State-Run Capitalism 459
NOTES
Chapter I, p. 495; Chapter II, p. 503; Chapter III, p. 504;
Chapter IV, p. 506; Chapter V, p. 510; Chapter VI,
p. 517; Chapter VII, p. 522; Chapter VIII, p. 535
BIBLIOGRAPHIES
Editors' Note 555
Chapter I, p. 557; Chapter II, p. 561; Chapter III, p. 565;
Chapter IV, p. 565; Chapter V, p. 567; Chapter VI,
p. 573; Chapter VII, p. 573; Chapter VIII, p. 580
Index 589
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TABLES
THE UNITED STATES
1 Net National Capital Formation in the USA, 1805-1900, as
a percentage of NNP page 2
2 Rates of Growth of Real Net National Product and Real
Net National Product per Capita, 1799-1899 5
3 Ratio of National Capital Stock to Net National Product,
1840-1900 6
4 Ratios of Depreciable Capital to Net Income Originating, by
Industrial Sectors, 1840-1900 18
5 Manufacturing Sector Capital-Output Ratios and Value
Added, by Industry Group, 1850-80 20
6 Relative Agricultural Capital-Output Ratios and Distri-
bution of Agricultural Income among Regions, 1880-1900 21
7 Index Numbers of Estimated Real Interest Rates, 1840-1900 23
8 Index Numbers of Cost of Capital Relative to Cost of
Labour, 1840-1900 24
9 Index Numbers of Components of the Cost of Labour and
the Cost of Capital, 1840-1900 26
10 Price Indexes of GNP and Components of Investment,
1839-99 27
11 Distribution of Net Investment among Types of Investment,
1839-48 to 1884-93 28
12 Distribution of Stocks of Depreciable Capital between
Equipment and Improvements, by Industrial Sectors,
1840-1900 29
13 Share of Gross Domestic Investment Accounted for by
Capital Consumption, 1834-43 to 1889-98 31
14 Share of Gross Investment in GNP, 1839 to 1889-98
(current and constant prices) 31
15 Share of GNP Accounted for by Consumer Durables, 1839
to 1899-1909 (current and constant prices) 33
16 New Business Incorporations in Seven US States, 1830-1909,
by Decade 38
17 Savings Ratios of New England Cotton Textile Firms
(Baker Sample), 1836-85 39
18 Gross Savings Ratios of Railroads in Eleven New England
and Middle Atlantic States 40
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X TABLES
19 Federal Government Finances: Receipts and Expenditures on
Physical Capital Items, 1831-1900 page 41
20 Grants to States for Educational Purposes 42-3
21 Aggregate State Government Social Overhead Expendi-
tures, in Current Prices and as a Percentage of Total Expen-
ditures, 1820-1902 45
22 New York City: Budget Expenditures by Decennial
Periods, 1830-90 46
23 Age Structure of the Male Population, 1830-1910 52
24 Farm Labour Force: Percentages in Farm-Building Con-
struction and in Land-Clearing, 1850-9 and 1900-9 56
25 Commercial Banks in the USA, 1870-1910 65
JAPAN
26 Private Non-Agricultural Investment: Annual Rates of
Growth, 1901-37, 1956-66 151
27 Average Private Non-Agricultural Investment by In-
dustries: Selected Years, 1907-66 154
28 GNP: Average Annual Rates of Growth during Long
Swings, 1897-1901 to 1962-9 156
29 Investment Ratio and Related Terms, 1907-64 157
30 Composition of Domestic Savings, 1908-66 158
31 Wage Differentials for Selected Years, 1905-65 160
32 Productivity Differentials for Selected Years, 1897-1937
and 1956-64 160
33 Exports: Prices and Proportion of Aggregate Demand,
1906-65 161
RUSSIA
34 Selected Economic Indicators, 1890 and 1913 270
3 5 Estimates of the Capital Stock in the Farm Sector 282
36 Capital Stock, Classification by Industry 290
37 Distribution of Capital Stock between Farm and Non-Farm
Sectors 290
38 Capital Stock in Agriculture, Industry, and Residential
Structures 290
39 Components of Capital Overhead, 1913 291
40 Index of Growth of Varzar Consumption Basket 292
41 Number of White-Collar Workers Employed in the Non-
Agricultural Sector, 1897 295
42 Estimates of Total Private Capital 296
43 Capital Stock in Structures 297
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