Economic History : Capital, Inequality, Growth (Master ape & ppd, Paris School of Economics) Thomas Piketty Academic year 2016-2017



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  Economic History : Capital, Inequality, Growth (Master APE & PPD, Paris School of Economics) Thomas Piketty Academic year 2016-2017

  • Syllabus & Reading list
  • (check on line for updated version)

Email : piketty@psemail.eu

  • Email : piketty@psemail.eu
  • Office : Jourdan B101
  • Course web page : http://piketty.pse.ens.fr/teaching/10/17
  • (check on-line for updated versions)

The objective of this course is to present an introduction to economic history, with special emphasis on the interaction between capital accumulation, inequality and growth. Issues will include the following.

  • The objective of this course is to present an introduction to economic history, with special emphasis on the interaction between capital accumulation, inequality and growth. Issues will include the following.
  • How did the world distribution of output, income and wealth - both between and within countries - evolve since 1800, and how can we account for these changes? What was the interaction with the global ownership and power structure, colonization and the state formation process? Did rising inequality contribute to the 2008 financial crisis, and what will be the impact of the crisis in emerging and developed countries? How does this differ from the 1929 crisis ?

Question: Can we properly understand economic issues with representative-agent formal economic models?

  • Question: Can we properly understand economic issues with representative-agent formal economic models?
  • Answer: No. We need to study history, society, and institutions: legal system, welfare state, taxation, etc. And to understand institutional dynamics and state formation, we need to study property, inequality and beliefs systems about the economy and the just society.
  • → economic history cannot be studied separately from social, political and cultural history
  • → mathematical models can be useful, but only if they are used with parsimony (only when we really need them)
  • → economics/political economy/economic history belong to the social sciences, & should not try to escape from them

This course will focus on the history of capital accumulation, inequality & growth

  • This course will focus on the history of capital accumulation, inequality & growth
  • For a focus on the history of taxation & public spending and on normative theories of government intervention & optimal redistribution, see my Public Economics course
  • The course is organized in 8 classes of 3 hours each
  • To validate the course, students are required :
  • (1) to attend and actively participate to all classes;
  • (2) to take the exam (the exam will require a good working knowledge of the material included in the lecture slides and in the highly recommended * readings)
  • (examples of past exams are here)

A quick roadmap of the lectures

  • Lectures 1-2: Income, capital and growth in the long run: how did rich countries become rich? (Tuesday September 6th & 13th 2016)
  • Lecture 3: The dynamics of capital accumulation: private vs public capital and the Great Transformation (Tuesday September 20th 2016)
  • Lecture 4: Inequality in the long run: labor income vs capital ownership
  • (Tuesday September 27th 2016)

  • Lecture 5: Slavery, forced labor and political rights in historical perspective (Tuesday October 4th 2016)
  • Lecture 6: Historical demography, family structures and the population transition (Wednesday November 2nd 2016)
  • Lecture 7: Money, finance and crisis in historical perspective (Tuesday November 8th 2016)
  • Lecture 8: The rise of the fiscal, social and capital state (Tuesday November 15th 2016)

How to use the reading list

  • The reading list contains many references (which themselves include more extensive bibliographies). Aim is to provide an introduction to the existing historical literature for students who plan to specialize in these areas. You are not expected to read everything!
  • You should try to read at least the “compulsory readings” (denoted with a *), as well as a selection of books and articles based on your own tastes. But please read!
  • The exam will be based upon a good working knowledge of all the material that is presented in the lecture slides. Please ask during the classes if there is anything unclear in this material.

Reading list: general references

  • To a large extent the course will follow this book :
  • T. Piketty, Le capital au 21e siècle, Seuil 2013 (Capital in the 21st century, Harvard University Press 2014)
  • I also strongly recommend the following books:
  • A. Maddison, The World Economy - A Millennial Perspective, 2001
  • P. Lindert, Growing Public - Social Spending and Economic Growth since the 18th Century, Oxford UP 2004
  • K. Pomeranz, The Great Divergence - China, Europe and the Making of the Modern World Economy, Princeton UP 2000
  • J. Goody, The Theft of History, Cambridge UP 2006
  • See also T. Piketty, “About Capital in the 21st Century”, AER 2015
  • «Putting Distribution Back at the Center of Economics», JEP 2015
  • « Vers une économie politique et historique », Annales – Histoire, sciences sociales 2015 (english version: « Toward a Political and Historical Economics »)

Detailed reading list

  • (compulsory readings: *)
  • Lectures 1-2: Income, capital and growth in the long run: how did rich countries become rich?
  • Basic facts about world growth in the long run:
  • * Capital…, chap.1-2
  • Maddison, The World Economy… ,2001
  • R. Stone, “The accounts of society”, Nobel lecture 1984
  • A. Vanoli, Une histoire de la comptabilité nationale, 2002
  • Global history and comparative development:
  • F. Braudel, Civilisation matérielle, économie et capitalisme, 15e-18e siècles, A.Colin 1979 (3 vol.) (Civilisation and capitalism, 15th-18th centuries, 1981-1984)
  • * Pomeranz K., The Great Divergence: China, Europe, and the Making of the Modern World, Princeton UP 2000, Intro., chap.5-6
  • --, “Political Economy and Ecology on the Eve of Industrialization. Europe, China and the Global Conjuncture”, AHR 2002
  • S. Beckert, Empire of Cotton – A Global History, Knopf, 2014
  • J.L. Rosenthal, R.B. Wong, Before and Beyond Divergence: The Politics of Economic Change in China and Europe, HUP 2011, Intro., chap.1 & 7
  • Hoffman, P. « Prices, the military revolution, and western Europe’s comparative advantage in violence », EHR 2011; “Why Was It Europeans Who Conquered the World?”, JEH 2012
  • J. Goody, The Theft of History, Cambridge UP, 2006
  • R. Allen, The British Industrial Revolution in Global Perspective, Cambridge Univ. Press, 2007
  • P. Lindert, Growing Public- Social Spending and Economic Growth since the 18th Century, Oxford UP 2004
  • Diamond, J., Guns, Germs and Steel: The Fate of Human Societies, Norton, 1997
  • Tilly, C., Coercion, Capital and European States, AD 990-1990, 1990
  • R. Findlay, K. O’Rourke, Power and Plenty. Trade, War, and the World Economy in the Second Millenium, Princeton UP 2007
  • K. Polanyi, The Great Transformation – The Political and Economic Origins of Our Time, 1944
  • H. Arendt, The Origins of Totalitarianism, 1951
  • I. Wallerstein, The Modern World System (2 vol.), 1974-1989
  • G. Arrighi, The Long Twentieth Century: Money, Power and the Origins of our Times, Verso 1994
  • Frank, A., B. Gills, The World System. Five hundred years or Five thousands ? , Routledge 1993

K. Sokoloff, S. Engerman, “Institutions, Factor Endowments, and Paths of Development in the New World”, in How Latin America Fell Behind, Haber ed., 1997 ; JEP 2000

  • K. Sokoloff, S. Engerman, “Institutions, Factor Endowments, and Paths of Development in the New World”, in How Latin America Fell Behind, Haber ed., 1997 ; JEP 2000
  • J.S. You, “Land reform, inequality and corruption: a comparative historical study of Korea, Taiwan and the Philippines”, KJIS 2014
  • D. North, B. Weingast, “Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in 17c England”, JEH 1989
  • D. Acemoglu, J. Robinson, Why Nations Fail - The Origins of Power, Prosperity and Poverty, Random House, 2012; « The Colonial Origins of Comparative Development: An Empirical Investigation », AER 2001 ; “The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth”, AER 2005 ; “The Consequences of Radical Reform: the French Revolution”, AER 2011
  • Q. Ashraf, O. Galor, “The Out-of-Africa Hypothesis, Human Genetic Diversity, and Comparative Economic Development”, AER 2013

The standard growth model

  • The standard growth model
  • R. Solow, “A Contribution to the Theory of Economic Growth’, QJE 1956; S. Kuznets, “Modern Economic Growth: findings and reflections”, AER 1973
  • R. Barro, X. Sala-i-Martin, Economic Growth, MIT Press, 2004, Chap.1-2
  • R. Gordon, « Is US economic growth over? Faltering innovation confronts the six headwinds », NBER 2012; “The Demise of US Economic Growth: Restatement, Rebuttal, and Reflections”, NBER 2014 ; « Secular Stagnation: the Supply-side View », AER 2015
  • L. Summers, « Demand-Side Secular Stagnation», AER 2015
  • B. Eichengreen, « Secular Stagnation: the Long View », AER 2015
  • C. Jones, P. Romer, « The new Kaldor facts : ideas, institutions, population and human capital », AEJ 2010 ; P. Krugman, A. Venables, « Globalization and the Inequality of Nations », QJE 1995
  • See also Course notes on wealth models

Lecture 3: The dynamics of capital accumulation: private vs public capital and the Great Transformation

  • Lecture 3: The dynamics of capital accumulation: private vs public capital and the Great Transformation
  • * Capital…, chap.3-6
  • * T. Piketty, G. Zucman, “Capital is Back: Wealth-Income Ratios in Rich Countries, 1700-2010”, QJE 2014 (data appendix) (database)
  • The measurement and transformation of national wealth
  • R. Giffen, The Growth of Capital, 1889
  • R. Goldsmith, Comparative National Balance Sheets: A Study of Twenty Countries, 1688–1978, Chicago UP 1985
  • R. Goldsmith, Pre-Modern Financial Systems, CUP, 1991
  • United Nations, System of National Accounts, 2008

Public debt and ricardian equivalence

  • Public debt and ricardian equivalence
  • R. Barro, “Are governement bonds net wealth?”, JPE 1974; « Governement spending, interest rates, prices and budget deficits in the UK 1701-1918 », JME 1987
  • G. Clark, «Debt, deficits and crowding out: England 1727-1840”, EREH 2001
  • Foreign asset portfolios
  • P.O. Gourinchas, H. Hey, « From World Banker to World Venture Capitalist: U.S. External Adjustment and the Exorbitant Privilege », NBER 2007
  • Shareholder power vs co-determination & worker participation
  • E. McGaughey, « Do Corporations Increase Inequality? », WP 2015; « The Codetermination Bargains: The History of German Corporate and Labour Law », WP 2015
  • E. Schuster, « European Company Law », LSE slides 2015
  • Property regimes in history: from feudal to social
  • K. Polanyi, The Great Transformation, 1944
  • R. Blaufarb, The Great Demarcation: The French Revolution and the Invention of Modern Property, OUP 2014
  • J. Adelman, Republic of Capital: Buenos Aires and the Legal Transformation of the Atlantic World, Stanford UP 1999

Intellectual property

  • Intellectual property
  • A. Kapczynski, « The Access to Knowledge Mobilization and the New Politics of Intellectual Property”, YLJ 2008; Zone books 2010; “The Cost of Price: Why and How to Get Beyond Intellectual Property”, UCLALR 2012; “Four Hypothesis on Intellectual Property and Inequality”, 2015
  • J. Boyle, “The Second Enclosure Movement & the Construction of the Public Domain”, LCP 2003
  • D. Koh et al, « Labor Share Decline and the Capitalization of Intellectual Property Products », WP 2015
  • Natural capital and land prices
  • E. Barbier, « Account for Depreciation of Natural Capital », Nature 2014a, 2014b
  • E. Olstrom, Governing the Commons: The Evolution of Institutions for Collective Action, CUP 1990; Property in Land and Other Ressources, Lincoln Institute 2012
  • J. Gyourko et al, “Superstar Cities”, AEJ 2010
  • K. Knoll, M. Schularick, T. Steger, “No Price Like Home: Global House Prices, 1870-2012”, WP 2015

  • V. Grossmann, T. Steger, “Das House-Kapital: A Theory of Wealth-to-Income Ratios”, WP 2016
  • R. Hornbeck, “Barbed Wire: Property Rights and Agricultural Development”, QJE 2010
  • R. Allen, “The Efficiency and Distributional Consequences of Eighteenth Century Enclosures,” EJ 1982
  • From capital-income ratios to capital shares
  • C. Cobb, P. Douglas, « A Theory of Production », AER 1928
  • R. Allen, « Engel’s Pause: Technical Change, Capital Accumulation and Inequality During the British Industrial Revolution », EEH 2009; « Engel’s Pause: A Pessimist Guide to the Industrial Revolution », WP 2007
  • L. Karabarmounis, B. Neiman, « The Global Decline in the Labor Share », WP 2013; « Capital Depreciation and Labor Shares Around the World: Measurement and Implications », WP 2014
  • International Labor Organization, « Global Wage Report 2014-15 »

Lecture 4: Inequality in the long-run: labor income vs capital ownership

  • Lecture 4: Inequality in the long-run: labor income vs capital ownership
  • * Capital…, chap.7-12
  • Historical studies on income and wealth inequality
  • S. Kuznets, Shares of upper income groups in income and savings, NBER 1953; « Economic growth and income inequality », AER 1955
  • A. Atkinson, A.Harrison, Distribution of personal wealth in Britain, CUP 1978
  • A. Atkinson, T. Piketty, Top Incomes Over the 20th Century, OUP 2007; Top Incomes: A Global Pespective, OUP 2010
  • A. Atkinson, T. Piketty, E. Saez, « Top Incomes in the Long Run of History», JEL 2011
  • * F. Alvaredo, --,--,--, ”The Top 1% in International & Historical Perspective“, JEP 2013
  • * T. Piketty, E. Saez, “Inequality in the long run”, Science 2014

Inequality of labor income

  • Inequality of labor income
  • Capital…, chap.8-9
  • C. Goldin, L. Katz, The Race between Education and Technology, HUP 2009
  • D. Autor, « Skills, education and the rise of earnings inequality among the other 99 percent », Science 2014
  • R. Chetty, E. Saez et al, « The Equal Opportunity Project », 2014
  • I. Kirsch, H. Braun, The Dynamics of Opportunity in America, 2016
  • P. Bourdieu, J.C. Passeron. Les héritiers. Les étudiants et la culture, Minuit 1966
  • D. Card, A.Krueger, « A Real Analysis of the New Jersey Minimum Wage Increase », AER 2000
  • T. Piketty, E. Saez, S. Stantcheva, « Optimal Taxation of Top Labor Incomes: A Tale of Three Elasticities », AEJ 2014
  • E. McGaughey, « Do Corporations Increase Inequality? », WP 2015

  • J. Brennan, “Rising Corporate Concentration, Declining Trade Union Power, and the Growing Income Gap: American Prosperity in Historical Perspective”, WP 2016
  • J. Song, D. Price, F. Guvenen, N. Bloom, « Firming Up Inequality », WP 2015
  • Inequality of capital ownership
  • Capital…, chap.10-12
  • J. Bourdieu, L. Kestelsbaum, G. Postel-Vinay, L’enquête TRA. Histoire d’un outil, outil pour l’histoire, INED 2014
  • * T. Piketty, G. Postel-Vinay, J.L. Rosenthal, « Wealth Concentration in a Developing Economy: Paris and France, 1807-1994 », AER 2006
  • --,--,--, « Inherited vs Self-Made Wealth: Theory and Evidence from a Rentier Society (Paris 1872-1927) », EEH 2014
  • --, « On the Long-Run Evolution of Inheritance: France 1820-2050 », QJE 2011
  • T. Piketty, G. Zucman, “Wealth and Inheritance in the Long-Run”, Handbook of Income Distribution, 2015

T. Piketty, “About Capital in the 21st century”, AER 2015 (other symposia)

  • T. Piketty, “About Capital in the 21st century”, AER 2015 (other symposia)
  • See also Course notes on wealth models
  • E. Saez, G. Zucman, « Wealth inequality in the US since 1913: Evidence Using Capitalized Income Data  », QJE 2016
  • T. Piketty, E. Saez, G. Zucman, «Distributional National Accounts: Methods and Estimates for the U.S. since 1913 », 2016 
  • B. Garbinti, J. Goupille, T. Piketty, « Wealth Concentration in France 1800-2014: Methods, Estimates and Simulations », 2016a; « Inequality Dynamics in France, 1900-2014: Evidence from Distributional National Accounts », 2016b
  • Y. Berman, Y. Shapira, E. Ben-Jacob, « Modelling the origin and possible control of the wealth inequality surge », 2015
  • Li Shi, « Changes in Wealth Distribution in China, 2002-2010 », WP 2013
  • S. Guriev, A. Rachinsky, « The Role of Oligarchs in Russian Capitalism », JEP 2005; « The evolution of personal wealth in the Former Soviet Union and Central and Eastern Europe”, WP 2006

World distribution of income and wealth

  • World distribution of income and wealth
  • C. Lakner, B. Milanovic, « Global Income Distribution: from the Fall of the Berlin Wall to the Great Recession », WP 2013
  • P. Anand, S. Segal, « The Global Distribution of Income », Handbook of Income Distribution 2015
  • J. Davies, D. Shorrocks et al, Global Wealth Report, Credit Suisse 2014, Data Book
  • F. Alvaredo, T. Piketty, « Measuring Top Incomes and Inequality in the Middle East », WP 2015
  • * G. Zucman, « The missing wealth of nations: are Europe and the US net debtors or net creditors? », QJE 2013
  • - - , « Taxing across borders: Tracking personal wealth and corporate profits », JEP 2014
  • Pre-industrial inequality
  • M. Borgerhof, S. Bowles, et al., « Intergenerational Wealth Transmission and the Dynamics of Inequality in Small Scale Societies », Science 2009
  • G. Analfi, « Economic Inequality in Preindustrial Europe 1300-1800 », 2016, Slides, JEH 2015
  • G. Analfi, W. Ryckbosch « Growing apart in early modern Europe? A comparison of inequality trends in Italy and the Low Countries, 1500–1800 », EEH 2016

Lecture 5: Slavery, forced labor and political rights in historical perspective

  • Lecture 5: Slavery, forced labor and political rights in historical perspective
  • * Capital…, chap.4
  • Slavery in historical perspective
  • M. Finley, Ancient Slavery and Modern Ideology, 1979
  • R. Blackburn, The Making of New World Slavery. From the Baroque to the Modern, 1492-1800, Verso 1997; The Overthrow of Colonial Slavery, 1776-1848, Verso 1988; The American Crucible. Slavery, Emancipation and Human Rights, Verso 2011
  • R. Fogel, S. Engerman, Time on the Cross: The Economics of American Negro Slavery, 1974; Without Consent or Contract: The Rise and Fall of American Slavery, 1989
  • L. Heywood, “Slavery and its transformation in the kingdom of Kongo: 1491-1800”, JAH 2009
  • S. Beswick, J. Spaulding, African Systems of Slavery, Trenton 2010
  • P.E. Lovejoy, Transformations in Slavery, Cambridge UP 2012
  • I. Chaterjee, R. Eaton, Slavery and South Asian History, Indiana UP 2007
  • C. Oustin-Bastide, P. Steiner, Calcul et morale – Coûts de l’esclavage et valeur de l’émancipation (18e-19e siècles), Albin Michel, 2015
  • D. Geggus, “The Haitian Revolution in Atlantic Perspective”, in N. Canny, P. Morgan, The Oxford Handbook of the Atlantic World 1450-1850, Oxford UP, 2011
  • P. Isnard, La démocratie contre les experts – Les esclaves publics en Grèce Ancienne, Seuil 2015
  • N. Tran, « Les statuts de travail des esclaves et des affranchis dans les grands ports du monde Romain », Annales HSS 2013
  • W. Scheidel, ”Human Mobility in Roman Italy: The Slave Population”, JRS 2005; “The Size of the Economy and the Distribution of Income in the Roman Empire”, JRS 2009
  • Slavery vs perpetual debt
  • A. Testard, L’esclave, la dette et le pouvoir. Etudes de sociologie comparative, 2001
  • D. Graeber, Debt – The first 5,000 years, 2012
  • J. Beckert, Inherited Wealth, PUP 2008
  • S. Horowitz,R. Sitkoff, “Unconstitutional Perpetual Trusts”, VLR 2014

Long term impact of slavery

  • Long term impact of slavery
  • E. Williams, Capitalism & Slavery, 1944
  • K. Pomeranz, The Great Divergence… , 2000
  • S. Beckert, Empire of Cotton… , 2014
  • N. Draper, The Price of Emancipation: Slave-Ownership, Compensation and British Society at the End of Slavery, CUP 2010
  • C. Hall, The Legacies of British Slave-Ownership, CUP 2014
  • N. Nunn, “The Long Term Effects of Africa’s Slave Trades,” QJE 2008;
  • * N. Nunn, “Slavery, Inequality and Economic Development in the Americas”, Institutional Change and Development, 2008
  • - -, L. Wantchekon, “The Slave Trade and the Origins of Mistrust in Africa”, AER 2011; - -, N. Qian, « The Colombian Exchange: A History of Disease, Food, and Ideas », JEP 2010
  • Dell, M. “The Persistent Effects of Peru’s Mining Mita,” EMA 2010
  • D. Acemoglu, C. Garcia-Jimeno, J. Robinson, “Finding El Dorado: Slavery and Long-run Development in Columbia”, JCE 2012
  • D. Leonard, « Hard Times in Poor Places », WP 2014

Slavery vs other coercive labor relations

  • Slavery vs other coercive labor relations
  • A. Stanziani, Le travail contraint en Asie et en Europe 17e-20e s., MSH 2010; Bondage. Labor and Rights in Eurasia 16th-20th centuries, 2014
  • * A. Stanziani “Beyond colonialism: servants, wage earners and indentured migrants in rural France and on Reunion Island (c. 1750–1900)”, Labor History 2013
  • R. Allen, « Slaves, Convicts, Abolitionism and the Global Origins of the Post-Emancipation Indentured Labor System», Slavery and Abolition 2014
  • S. Naidu, N. Yuchtman, “Coercive Contract Enforcement: Law and the Labor Market in 19th Century Industrial Britain,” AER 2013
  • S. Naidu, “Recruitment Restrictions and Labor Markets: Evidence from the Post-Bellum U.S. South”, JLE 2010
  • S. Naidu, Y. Nyarko, S.Y. Wang, “Monopsony Power in Migrant Labor Markets: Evidence from the United Arab Emirates”, WP 2015
  • L. Alston, J. Ferrie, “Paternalism in Agricultural Labor Contracts in the U.S. South: Implications for the Growth of Welfare State”, AER 1993

Brenner, R. “Agrarian Class Structure and Economic Development in Pre-Industrial Europe,” Past and Present 1976 ; see also essays collected in The Brenner Debate, CUP 1985, Aston and Philpin eds.

  • Brenner, R. “Agrarian Class Structure and Economic Development in Pre-Industrial Europe,” Past and Present 1976 ; see also essays collected in The Brenner Debate, CUP 1985, Aston and Philpin eds.
  • E. Domar, “The Causes of Slavery and Serfdom: A Hypothesis,” JEH 1970
  • T. Dennison, « Contract enforcement in Russian serf society, 1750–1860 », EHR 2013; ”The Institutional Framework of Serfdom in Russia: the View from 1861”, in Serfdom and Slavery in the European Economy, 11th-18th centuries, Firenze UP 2014
  • A. Markevich, E. Zhuravskaya, ”The Economic Effects of the Abolition of Serfdom: Evidence from the Russian Empire “, WP 2016
  • J. Fenske, “Does Land Abundance Explain African Institutions?”, EJ 2013
  • M. Saleh, “The Cotton Boom and Slavery in Nineteenth-Century Rural Egypy”, WP 2015
  • Castes, colonies and other status-based inequality systems
  • B.R. Ambedkar, Castes in India. Their Mechanism, Genesis and Development, 1916
  • G. Dumézil, « Métiers et classes fonctionnelles chez divers peuples indo-européens », Annales ESC 1958
  • L. Dumont, Homo hierarchicus. Le système des castes et ses implications, 1966

C. Jaffrelot, Inde: la Démocratie par la caste. Histoire d’une mutation socio-politique (1885-2005), Seuil 2005; Religion, caste and politics in India, OUP 2010; C. Jaffrelot, J. Naudet, Justifier l’ordre social. Caste, race, classe et genre, 2013

  • C. Jaffrelot, Inde: la Démocratie par la caste. Histoire d’une mutation socio-politique (1885-2005), Seuil 2005; Religion, caste and politics in India, OUP 2010; C. Jaffrelot, J. Naudet, Justifier l’ordre social. Caste, race, classe et genre, 2013
  • * G. Cassan, « Identity based policies and identity manipulation: Evidence from Colonial Punjab », AEJ 2014
  • G. Cassan, « Political representation in Colonial India », 2015; « Affirmative action, education, and gender in India », WP 2016
  • S. Bagde, D. Epple, S. Taylor, « Caste- and Gender-Based Affirmative Action and College Quality in India”, AEJ 2016
  • A. Subramanian, “Making Merit: The Indian Institutes of Technology and the Social Life of Caste“, CSSH 2015
  • A. Deshpande, ”Affirmative Action in India and the United States“, 2006
  • A. Banerjee, T. Piketty, « Top Indian Incomes 1922-2000 », WBER 2005
  • F. Alvaredo, A. Bergeron, G. Cassan, « Income concentration in British India, 1885-1946 », WP 2016
  • * F. Alvaredo, A. Atkinson, « Colonial Rule, Apartheid & Natural Ressources: Top Incomes in South Africa 1903-2007 », WP 2010
  • T. Piketty, « Inequality of wealth vs inequality of status. An historical perspective on modern vs ancient inequality regimes”, WP 2016

F. Cooper, Citizenship between Empire and Nation: Remaking France and French Africa, 1945-1960, PUP 2014; Africa and the World – Capitalism, Empire, Nation-State, HUP 2014

  • F. Cooper, Citizenship between Empire and Nation: Remaking France and French Africa, 1945-1960, PUP 2014; Africa and the World – Capitalism, Empire, Nation-State, HUP 2014
  • F. Alvaredo, D. Cogneau, T. Piketty, « Income Inequality Under Colonial Rule: Evidence from French Algeria, Cameroon, Indochina and Tunisia, 1920-1960 », PSE 2016
  • M. Arnoux, Le temps des laboureurs. Travail, ordre social et croissance en Europe (11e-14e siècles), Albin Michel 2012
  • R. Castel, Les métamorphoses de la question sociale, 1995
  • F. Cosandey, Les hiérarchies d’Ancien Régime, Gallimard 2015; « Classement ou ordonnancement », 2011
  • G. Carré, « Les marges statutaires dans le Japon pré-moderne », Annales HSS 2011
  • Censitory societies & voting rights in historical perspective
  • A. Lizzeri and N. Persico, “Why Did the Elites Extend the Suffrage? Democracy and the Scope of Government, with an Application to Britain’s ‘Age of Reform’.” QJE 2004
  • S. Engerman, K. Sokoloff, “The Evolution of suffrage institutions in the New World”, JEH 2005
  • J.M. Baland, J. Robinson, “ Land and Power: Theory and Evidence from Chile,” AER 2008

Lecture 6: Historical demography, family structures and the population transition

  • Lecture 6: Historical demography, family structures and the population transition
  • * Capital…, chap.1-2
  • Causes and consequences of the demographic transition
  • * T. Guinnane, “The Historical Fertility Transition: A Guide for Economists”, JEL 2011
  • P. Goubert, “Historical Demography and the Reinterpretation of Early Modern French History: A Research Review”, JIH 1970
  • E. Le Roy Ladurie, Les paysans du Languedoc, 1966
  • M. Kremer, “Population Growth and Technological Change: One million BC to the present”, QJE 1993
  • S. Mithen, After the Ice: A Global Human History, 20,000-5,000 BC, HUP 2003
  • Murphy, T., « Old Habits Die Hard (Sometimes): What Can Department Heterogeneity Tell Us About the French Fertility Decline? », JEG 2015
  • Dribe, M., « Demand and supply factors in the fertility transition: a county-level analysis of age-specic marital fertility in Sweden, 1880-1930 », EREH 2009
  • O. Galor, D. Weil, ‘Population, Technology and Growth: from Malthusian Stagnation to the Demographic Transition and Beyond,’ AER 2000
  • N. Nunn, N. Qian, « The Potato's Contribution to Population and Urbanization: Evidence from a Historical Experiment », QJE 2011
  • N. Voigtlander, J. Voth, « How the West ’Invented’ Fertility Restriction », AER 2013
  • N. Qian, « Missing Women and the Price of Tea in China: the Effect of Sex-Specific Earnings on Sex Imbalance », QJE 2008
  • G. Esping-Andersen (ed.), The Fertility Gap in Europe: Singularities of the Spanish Case, Caixa 2013
  • E. Spolaore, R. Wacziarg, « Fertility and Modernity », WP 2016

Living standards and population growth in the long run

  • Living standards and population growth in the long run
  • C. Feinstein, “Pessimism Perpetuated: Real Wages and the Standard of Living During and After the Industrial Revolution”, JEH 1998
  • R. Allen, « Engel’s Pause: Technical Change, Capital Accumulation and Inequality During the British Industrial Revolution », EEH 2009; « Engel’s Pause: A Pessimist Guide to the Industrial Revolution », WP 2007; « Pessimism Preserved: Real Wages in the British Industrial Revolution », WP 2007; « The Great Divergence in European Wages and Prices from the Middle Ages to the First World War », EEH 2001
  • S. Nicholas, R. Steckel, “Heights and Living Standards of English Workers during the Early Years of Industrialization, 1770–1815.” JEH 1991
  • C. Boix, F. Rosentbluth, « Bones of Contention: The Political Economy of Height Inequality », APSR 2014
  • J. De Vries, “The Industrial Revolution and the Industrious Revolution”, JEH 1994
  • H.J. Voth, «Time and Work in Eighteenth-Century London», JEH 1998
  • P. Antràs, H.-J. Voth, “Factor Prices and Productivity Growth during the British Industrial Revolution.” EEH 2003.
  • D. Costa, “The Unequal Work Day: A Long-Term View“, JLE 2000
  • N. Voigtlander, J. Voth, « The Three Horsemen of Growth: Plague, War and Urbanization in Early Modern Europe », RES 2013; « Malthusian Dynamism and the Rise of Europe: Make War, Not Love », AER 2009
  • E. Chaney, R. Hornbeck, « Economic Growth in the Malthusian Era: Evidence from the 1609 Spanish Expulsion of the Moriscos », EJ 2015

G. Clark, ‘The Long March of History: Farm Wages, Population, and Economic Growth, 1250 – 1869,’ EHR 2007

  • G. Clark, ‘The Long March of History: Farm Wages, Population, and Economic Growth, 1250 – 1869,’ EHR 2007
  • G. Clark, “The Condition of the Working Class in England, 1209–2004.” JPE 2005.
  • K. O’Rourke, J. Williamson, “From Malthus to Olhin: Trade, Industrialization and Distribution since 1500”, JEG 2005
  • D. Rouzet, “L’évolution des salaires et de la rente foncière en France (1450-1940)”, PSE 2004
  • S. Broadberry, B. Gupta, ‘The Early Modern Great Divergence: Wages, Prices and Economic Development in Europe and Asia, 1500-1800,’ EHR 2006
  • L. Abad, E. Davies, J. van Zanden, « Between conquest and independance: Real wages and demographic changes in Spanish America, 1530-1820 », EEH 2012
  • R. Allen, J.P. Bassino, D. Ma, C. Moll-Murata, J. Van Zanden, « Wages, prices and living standards in China 1738-1925: in comparison with Europe, Japan and India », EHR 2011

Family structures and development

  • Family structures and development
  • C. Levi-Strauss, Les structures élémentaires de la parenté (The elementary structures of kinship), 1947
  • P. Laslett, R. Wall, Household and Family in Past Times, CUP 1972
  • J. Goody, The Development of the Family and Marriage in Europe, CUP 1983; The Oriental, the Ancient and the Primitive: Systems of Marriage and the Family in the Pre-Industrial Societies of Eurasia, CUP 1990; The European Family, Blackwell 2000; The Theft of History, CUP 2006
  • E. Todd, La troisième planète, 1983 (Explanation of Ideology: Family Structure and Social System, 1985); La nouvelle France, 1988 (The Making of Modern France: Politics, Ideology and Culture, 1991); L’invention de l’Europe, 1990; L’origine des systèmes familiaux, 2011
  • * D. Le Bris, “Family Characteristics and Economic Development”, WP 2016 (data)

G. Duranton, A. Rodriguez-Pose, R. Sandall, “Family Types and the Persistence of Regional Disparities in Europe”, EG 2009

  • G. Duranton, A. Rodriguez-Pose, R. Sandall, “Family Types and the Persistence of Regional Disparities in Europe”, EG 2009
  • A. Alesina, P. Giuliano, “The Power of the Family”, JEG 2010; “Family Ties and Political Participation”, JEEA 2011
  • T. de Moor, J. L. van Zanden « Girlpower. The European Marriage Pattern and Labor Markets in the North Sea Region in the Late Medieval and Early Modern Period », EHR 2009
  • G. Becker, A Treatise on the Family, HUP 1981 (1991)
  • C. Mulligan, Parental Priorities and Economic Inequality, The University of Chicago Press 1997
  • G. Clark, The Son Also Rises: Surnames and the History of Social Mobility, Princeton UP 2014; A Farewell to Alms: A Brief Economic History of the World, Princeton UP 2007
  • E. Durkheim, Le suicide. Etude de sociologie, 1897
  • C. Baudelot,R. Establet, Suicide.L’envers de notre monde,Seuil 2006
  • M. Halbwachs, Le point de vue du nombre, 1936 (M. Jaisson & E. Brian eds., INED, 2005)

  • N. Fremeaux, M. Leturcq, "On the long-run evolution of marriage and prenuptial agreements - France 1855 - 2005“, WP 2015; "Plus ou moins mariés: l'évolution du mariage et des régimes matrimoniaux en France", E&S 2013
  • N. Mignot, « L’adoption simple en France : le renouveau d’une institution ancienne (1804-2007) », RFS 2015
  • T. Dennison, S. Oglivie, “Does the European Marriage Pattern Explain Economic Growth? », JEH 2014
  • Birth order and inequality between siblings
  • * S. Jayachandran, R. Pande, « Why Are Indian Children So Short? The Role of Birth Order and Son Preference”, WP 2015
  • C. Dasgupta, “The Hindu Undivided Family in Independent India’s Capital Accumulation Regime: An Anachronism?”, WP 2016
  • S. Black, P. Devereux, K. Salvanes, ”The More the Merrier? The Effect of Family Size and Birth Order on Children's Education”, QJE 2005

R. Andeweg, S. Van Den Berg, “ Linking Birth Order to Political Leadership: The Impact of Parents or Sibling Interaction?”, PS 2003

  • R. Andeweg, S. Van Den Berg, “ Linking Birth Order to Political Leadership: The Impact of Parents or Sibling Interaction?”, PS 2003
  • J. Booth, R. Kee, “Birth Order Matters: The Effect of Family Size and Birth Order on Educational Attainment”, JPopE 2009
  • P. Kristensen, T. Bjerkedal, ”Explaining the Relation between Birth Order and Intelligence”, Science 2007
  • Gender inequality in historical perspective
  • M. Godelier, La production des grands hommes : pouvoir et domination masculine chez les Baruyas de Nouvelle-Guinée, 1982; The Making of Great Men. Male domination and Power among the New Guinea Baruya, 1986
  • A. Alesina, P. Giuliano, N. Nunn, “On the Origins of Gender Roles: Women and the Plough," QJE 2013

J. Humphries,“Enclosures,Common Rights and Women.The Proletarianization of Families in late 18th-early 19th centuries”, JEH 1990

  • J. Humphries,“Enclosures,Common Rights and Women.The Proletarianization of Families in late 18th-early 19th centuries”, JEH 1990
  • S. Horrell, J. Humphries, “Women's Labour Force Participation and the Transition to the Male-Breadwinner Family, 1790-1865”, EHR 1995
  • Creighton, C., “The Rise of the Male Breadwinner Family. A Reappraisial”, Comparative Studies in Society and History, 1996
  • Seccombe, W. , “Patriarchy Stabilized. The Construction of the Male Breadwinner Wage Norm in 19c Britain”, Social History, 1986
  • C. Goldin, « The U-Shaped Female Labor Force Function in Economic Development and Economic History », UCP 1995
  • C. Goldin,L. Katz,«The Power of the Pill: Oral Contraceptives and Women’s Career & Marriage Decisions»,JPE 2002;«The Most Egalitarian of Professions: Pharmacy and the Evolution of a Family Friendly Occupation », WP 2012
  • H. Kleven, C. Landais, J. Søgaard, « Children and Gender Inequality: Evidence from Denmark », WP 2015

Lecture 7: Money, finance and crisis in historical perspective

  • Lecture 7: Money, finance and crisis in historical perspective
  • * Capital…, chap.5, 16
  • The Great recession vs the Great depression
  • M. Friedman and A. J. Schwartz, A Monetary History of the United States, 1867-1960, Princeton UP, 1963
  • C. M. Reinhart and K.S. Rogoff, This Time Is Different: Eight Centuries of Financial Folly. Princeton UP, 2009
  • * N. Ferguson, A. Schaab, M. Schularick, « Central Bank Balance Sheets: Expansion and Reduction since 1900 », WP 2015 (Database)
  • B. Bernanke, “A Century of U.S. Central Banking’, JEP 2013
  • A. J. Jalil, “A New History of Banking Panics in the United States, 1825–1929: Construction and Implications.” AEJ-Macro 2014.
  • C. Romer, D. Romer, “New Evidence on the Impact of Financial Crises in Advanced Countries”, WP 2015
  • P. Martin, T. Philippon, “Inspecting the Mechanism: Leverage & the Great Recession in the Eurozone”, WP 2015
  • B. Eichengreen, Golden Fetters: The Gold Standard and the Great Depression 1919–1939, Oxford UP, 1992

C. D. Romer, “The Great Crash and the Onset of the Great Depression.” QJE 1990

  • C. D. Romer, “The Great Crash and the Onset of the Great Depression.” QJE 1990
  • B. Eichengreen and I. McLean, ‘The Supply of Gold under the pre-1914 Gold Standard,’ EHR 1994
  • B. Eichengreen and P. Temin, ”The Gold Standard and the Great Depression”, NBER 1997
  • J. M. Keynes, The Economic Consequences of the Peace, 1919
  • J. M. Keynes, General Theory of Interest, Money & Employment, 1936
  • B. Eichengreen, ‘The Origins and Nature of the Great Slump Revisited,’ EHR 1992
  • E. Monnet, Politique monétaire et politique du crédit en France pendant les Trente Glorieuses (1945-1973), Thèse EHESS, 2012
  • T. Piketty, E. Saez, “Top Incomes and the Great Recession”,IMF Review 2013
  • K. Holston, T. Laubach, J. Williams, « Measuring the Natural Rate of Interest: International Trends and Determinants », WP 2016

* L. Rachel, T. Smith, “Secular drivers of the global real interest rate »,2015

  • * L. Rachel, T. Smith, “Secular drivers of the global real interest rate »,2015
  • A. Ritschl, “Reparation transfers, the Borchardt hypothesis and the Great Depression in Germany, 1929–32: A guided tour for hard-headed Keynesians”, EREH 1998
  • M. Schularick & A. M. Taylor, "Credit Booms Gone Bust: Monetary Policy, Leverage Cycles, and Financial Crises, 1870-2008,“ AER 2012
  • * R. S. Grossman & C. M. Meissner, "International aspects of the Great Depression and the crisis of 2007: similarities, differences, and lessons," OREP 2010
  • “The Bailouts of 2007-2009”, JEP 2015 symposium
  • C. Romer, “The Aftermath of Financial Crises: Each Time Really is Different”, WP 2015
  • D. Furceri, P. Loungani, “Capital Account Liberalization and Inequality” WP 2015
  • I. W. Martin, C. Niedt, Foreclosed America, SUP 2015
  • R. Caballero, E. Farhi, P.O. Gourinchas, ”Global Imbalances and Currency Wars at the ZLB”, WP 2015

Financial development & regulation in historical perspective

  • Financial development & regulation in historical perspective
  • P. Hoffman, G. Postel-Vinay, J.L. Rosenthal, Priceless Markets: The Political Economy of Credit in Paris, 1660-1870, University of Chicago Press 2001; Surviving Large Losses: Financial Crises, the Middle Class, and the Development of Capital Markets, HUP 2009
  • J. Ott, When Wall Street met Main Street: The Quest for an Investors’ Democracy, Harvard UP, 2011
  • L. Hyman, Debtor Nation – The History of America in Red Ink, PUP, 2013
  • K. Pistor, « A Legal Theory of Finance », JCE 2013
  • Philippon, T., A. Reshef, “Wages and Human Capital in the U.S. Financial Industry: 1909-2006,” QJE 2012
  • * Philippon, T., « Has the US Finance Industry Become Less Efficient? », AER 2015
  • D. Le Bris, W. Goetzman, S. Pouget, « Testing Asset Price Theories on Six Hundred Years of Stock Returns: Prices and Dividends for the Bazacle Company, 1372-1946 », WP 2014

Lecture 8: The rise of the fiscal, social and capital state

  • Lecture 8: The rise of the fiscal, social and capital state
  • * Capital…, chap. 13-16
  • The rise of fiscal and social state
  • P. Lindert, Growing Public- Social Spending and Economic Growth since the 18th Century, OUP 2004; “Private Welfare and the Welfare State”, in The Cambridge History of Capitalism, L. Neal, J. Williamson, CUP 2014
  • G. Esping Andersen, The Three Worlds of Welfare Capitalism, PUP 1990
  • M. Dincecco, “The Rise of Effective States in Europe”, JEH 2015
  • J. Beckert, Inherited wealth, PUP 2008
  • I. Fisher, « Economists in Public Service », AER 1919
  • N. Delalande, Les batailles de l’impôt – Consentement et résistance de 1789 à nos jours, Seuil 2011
  • R. Huret, American Tax Resisters, HUP 2014
  • E. Heaman, A Short History of the State in Canada, 2015; Taxes and Tax Revolts in Canada 1867-1917, 2016

  • A. Jensen, “Employment Structure and the Rise of the Modern Tax System”, WP 2016
  • M. Huberman, Odd Couple. International Trade and Labor Standards in History, Yale UP 2012
  • P. Hall, D. Soskice, Varieties of Capitalism. The Institutional Foundations of Comparative Advantage, OUP 2001 (Introduction)
  • A. Elu-Terán, “Has Social Security Policy Converged? Cross-Country Evolution of Old Age Benefits, 1890–2000”, JEH 2012
  • E. Ruiz, Trop de fonctionnaires? Contribution à une histoire de l’Etat par les effectifs (France 1850-1950), Thèse 2013
  • P. Bourdieu, Sur l'Etat. Cours 1989-1992, Seuil, 2012
  • The educational and scientific state
  • C. Aubry et al, Education and the State, Rouledge 2015
  • R. Nelson and G. Wright, ‘The Rise and Fall of American Technological Leadership: The Postwar Period in Historical Perspective,’ JEL 1992
  • G. Grantham, ‘The Institutionalization of Science in Europe, 1650-1800,’ in P. Rhode, J. Rosenbloom, D. Weiman, Economic Evolution and Revolution in Historical Time, 2011
  • F. Furet, J. Ozouf, Lire et écrire – L’alphabétisation des Français de Calvin à Jules Ferry, Ed. Minuit, 1977
  • Political attitudes toward inequality in historical perspective
  • L. Bartels, Unequal Democracy: The Political Economy of the New Gilded Age, PUP 2008; « The Social Welfare Deficit: Public Opinion, Policy Responsiveness and Political Inequality in Affluent Democracies », WP 2015
  • J. Hacker, P. Pierson, Winner-Take-All Politics: How Washington Made the Rich Richer-and Turned Its Back on the Middle Class, 2010
  • M. Gilens, Affluence and Influence: Economic Inequality and Political Power in America, PUP 2012
  • M. Gilens, B. Page, « Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens », PoP 2014
  • * A. Bonica, H. Rosenthal, « Why Hasn’t Democracy Slowed Rising Inequality », JEP 2013; « The Wealth Elasticity of Political Contributions by the Forbes 4000 », WP 2015
  • T. Kuhner, Capitalism vs Democracy: Money in Politics and the Free Market Constitution, Stanford University Press 2014
  • K. Scheve, D. Stasavage, Taxing the Rich. A History of Fiscal Fairness in the United States and Europe, Princeton University Press 2016
  • L. Kuziemko, M. Norton, E. Saez, S. Stantcheva, « How Elastic are Preferences for Redistribution? », AER 2015
  • T. Piketty, « Social Mobility and Redistributive Politics », QJE 1995; « Self-Fulfilling Beliefs About Social Status», JPubEc 1998 ; « Theories of Persistent Inequality & Intergenerational Mobility », HID 2000
  • M. Corak, « Income Inequality, Equality of Opportunity and Intergenerational Mobility », JEP 2013
  • V. Gimpelson, D. Treisman, « Misperceiving Inequality », WP 2015
  • M. Forsé, M. Parodi, « Perception des inégalités économiques et sentiment de justice sociale », Revue OFCE 2007
  • C. Boix, Political Order and Inequality, CUP 2015; Democracy and Redistribution, CUP 2003; « Redistribution policies in a globalized world », 2011; « A Complete Dataset on Political Regimes, 1800-2007 », CP 2013
  • Jensen et al, « Political Polarization and the Dynamics of Political Language: Evidence from 130 Years of Political Speech », BPEA 2012

Organizing property: financial transparency & participatory governance

  • Organizing property: financial transparency & participatory governance
  • D. Nougayrede, “Outsourcing Law in Post-Soviet Russia”, JEL 2014; NJILB 2015
  • G. Zucman, The Hidden Wealth of Nations, University of Chicago Press 2015
  • J.P. Chazal, « La propriété: dogme ou instrument politique? », RTDC 2014
  • E. McGaughey, « The Codetermination Bargains: The History of German Corporate and Labour Law », WP 2015
  • J. Boyle, “The Second Enclosure Movement & the Construction of the Public Domain”, LCP 2003
  • J. Cagé, Saving the Media. Capitalism, Crowdfunding and Democracy, Harvard UP, 2016

Organizing democracy: electoral systems, nation-states, empires & federations

  • Organizing democracy: electoral systems, nation-states, empires & federations
  • A. Lijphart, Electoral Systems and Party Systems: A Study of Twenty-Seven Democracies, 1994; Patterns of Democracy: Government Forms and Performance in Thirty-Six Countries, 1999
  • A. Alesina, H. Rosenthal, Partisan Politics, Divided Government & the Economy, CUP 1996
  • U. Beck, E. Grande, Cosmopolitan Europe, Polity Press 2007 (Pour un empire européen, Flammarion, 2007)
  • F. Cooper, Citizenship between Empire and Nation: Remaking France and French Africa, 1945-1960, PUP 2014; Africa and the World – Capitalism, Empire, Nation-State, HUP 2014
  • J. Burbank, F. Cooper, « Empire, droits et citoyenneté, de 212 à 1946 », Annales HSS 2008


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