notes. 9.12 - 9/12 Boyer Convergence o As people leave...

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9/12 – Boyer - Convergence o As people leave Europe, European wages increase while new world wages decreased o 1870-1912: downward trend of wages convergence Wages aren’t equal, however new world wages are significantly higher o What if wage convergence never occurred? Wages in 1913 Italy: -33% Ireland -36% Scandanavia: -11-15% US: +15% Canada: +31% Australia: +28% Argentina: +46% o If mass migration hadn’t occurred there would have ben major divergence in wages o Wage growth in the new world grew at a slower rate because of migration than Europe o US growing fastest (economically) germany and Scandanavia grow quickly during this time too o Those concerned with social protection, longer life, etc. stayed in Europe - Protection o Leading up to WWI, gov’t protection of labor increases Female workers, decrease in child labor, workers compensation, unemployment, health insurance Only in Europe o M. Huberman and W. Lewchuck
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The extent to which a country participates in a global economy seems to be
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notes. 9.12 - 9/12 Boyer Convergence o As people leave...

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