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  1. Importing sobrie'tea'
    understanding the tea trade during the Industrial Revolution
    Author: Bora, Kabeer
    Published: [2023]
    Publisher:  University of Utah, Department of Economics, [Salt Lake City, UT]

    Economic historian Robert Allen observed that during the Industrial Revolution, the British working class experienced a period of stagnant real wages. This has led many historians to investigate changes in the diet of the working class during that... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 210
    Inter-library loan:
    No inter-library loan

     

    Economic historian Robert Allen observed that during the Industrial Revolution, the British working class experienced a period of stagnant real wages. This has led many historians to investigate changes in the diet of the working class during that time. While there has been a focus on the entire food basket, this paper concentrates on the consumption of tea, which was entirely imported. I seek to explore why demand for tea increased during the Industrial Revolution by examining the effect of working hours on tea imports between 1760 and 1834. I aim to identify the determinants of tea demand and while underlining the crucial role that increasing working hours played in surplus extraction. The Industrial Revolution was characterized by long working hours, and the declining consumption per capita of so-called luxury items, such as tea, was actually due to their use as stimulants. To examine the relationship between working hours and tea imports, I employ a Dynamic OLS (DOLS) methodology, which demonstrates that tea imports responded positively to increasing working hours. This finding is corroborated by another method, the Fully Modified OLS (FM-OLS). I also propose new methods for calculating hours worked and tea imports in the process.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / University of Utah, Department of Economics ; no: 2023, 6 (April 2023)
    Subjects: Tea; Working hours; Time Series; Trade History; Industrial Revolution
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  2. The Drain Gain
    an investigation into how colonial drain helped keep British economy buoyant
    Author: Bora, Kabeer
    Published: [2023]
    Publisher:  University of Utah, Department of Economics, [Salt Lake City, UT]

    The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a... more

    Access:
    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 210
    Inter-library loan:
    No inter-library loan

     

    The global hegemony of Britain in the 19th century is hardly a disputed fact. As a global hegemon, it oversaw the transfer of surplus from the underdeveloped world to its shores. The transfer of surplus was important in maintaining its status as a hegemon. In this essay, I underline the need for Britain to colonize India, its biggest possession. India's colonial history has been the subject of a lot of scholarly attention but rarely has the focus shifted from the drain of surplus as a cause of underdevelopment of India to a transfer of surplus from India to Britain as a cause of development of Britain. I shed light on this aspect of global surplus extraction and show empirically that this transfer of surplus was invaluable for the success of the British economy. Marx's macroeconomics and his well-known law of the falling rate of profit are my main sources of support. Accounting for spurious correlation using Hamilton(1994), I find that an increase in colonial drain by 1% increases the rate of profit of Britain by around 9 percentage points. My findings are corroborated by the several robustness checks I perform, including using different measures of domestic exploitation and a different method in Autoregressive Distributed Lag (ARDL). About the whole of the 19th century up until the First World War is included in my period of analysis.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / University of Utah, Department of Economics ; no: 2023, 01 (February 2023)
    Subjects: Colonial Drain; Rate of Profit; Time Series Analysis; India
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen