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StandardOfLiving

StandardOfLiving - Ind.Rev.butwhen how theworkingc

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Standard of Living Debate Agreements and Disagreements 0. Sustained rise in real income per person as eventual outcome of Ind. Rev. but when? 1. Industrial Revolution changed lives of the “working classes” but how? 0. Pessimists - living standards fell before rising after 1850 1. Optimists - living standards rose steadily throughout 2. Traditional view that the Industrial Revolution was a disaster for the working classes What is Standard of Living? 3. Real income = money income adjusted for the cost of living 4. Also adjusted for “quality of life” issues 2. Health 3. Unemployment 4. Pollution 5. Condition of women and children 6. Urban crowding 7. Amount of leisure time Crafts Numbers from British Incomes - 1970 US$ 5. 1700 - $333 6. 1760 - $399 7. 1800 - $427 8. 1830 - $498 9. 1860 - $804 Growth and Inequality 10. If growth continues consistently over a century of more inequality would have to increase dramatically to make the poor less well off 11. If Crafts is right that income doubled between 1760 and
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StandardOfLiving - Ind.Rev.butwhen how theworkingc

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