THE EDWARDIAN
ECONOMY:
Structure, Performance and Policy
in Britain, 1890-1914
PROFESSOR MARK THOMAS
Friday, 13 May 2011
“Sixty years ago England had leadership in most branches of industry. ... It was
inevitable that she should cede much of that leadership to the [United States]. It
was inevitable that she should yield a little of it to [Germany]. It was not inevitable
that she should lose so much of it as she has done.”
Alfred Marshall, Memorandum on the Fiscal Policy of International Trade, 1902
“Sugar is gone; silk has gone; iron is threatened; wool is threatened; cotton will go!
How long are you going to stand it? At the present moment these industries…are
like sheep in a field."
Joseph Chamberlain, Speech at Greenock, Oct. 7, 1903
“In a time of great commercial prosperity ... a very large section of the
working class are not physically fit to carry on their work in an efficient
manner. They are underfed, badly clothed, horribly housed and poorly
educated, with the inevitable result that they cannot compete either in
body or mind with better fed and better taught classes and nations. ...
Such handicaps as these must cripple any nation in a period of
prolonged and severe competition.”
W. T. Stead, 'How the Other Half Lives: The Way We Undermine Our National Efficiency,' Review of Reviews 24
(December, 1901), pp. 642, 645.
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INCOME INEQUALITY STATISTICS (PRE-FISCAL) 1906
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DIRECT TAX RATES IN FORCE; FISCAL YEARS 1907 & 1911
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SIMPLIFIED SOCIAL ACCOUNTING MATRIX
Notes:
1. Government receipt from combined
capital account.
2. Institutions (i.e Government) receipts
from rest of world.
3. Gross capital formation.
4. Exports.
5. Savings by institutions.
6. Deficit in current account of balance
of payments.
7. Imports of competitive goods.
8. Imports of non-competitive goods.
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THE IMPACT OF THE SOCIAL REFORMS ON HOUSEHOLD INCOME DISTRIBUTION
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THE IMPACT OF THE SOCIAL REFORMS ON HOUSEHOLD INCOME DISTRIBUTION
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OPTIMUM TARIFFS IN EDWARDIAN BRITAIN
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AN ALTERNATIVE TARIFF SCHEDULE FOR 1907
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PARTIAL EQUILIBRIUM ESTIMATES OF THE OUTPUT AND EMPLOYMENT EFFECTS OF THE
CHAMBERLAIN TARIFF, 1907
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THE ARMINGTON MODEL
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MODIFIED SOCIAL ACCOUNTING MATRIX FOR ARMINGTON ANALYSIS
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TRADE ELASTICITIES IN THE TARIFF MODEL
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GENERAL EQUILIBRIUM ESTIMATES OF THE OUTPUT EFFECTS OF A CHAMBERLAIN TARIFF
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