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Capital in the Nineteenth Century

Robert E. Gallman and Paul W. Rhode

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.001.0001
Subject:
Economics and Finance, Economic History

A nation’s capital stock is widely recognized as a crucial determinant of the productivity of its workers and the standard of living of its citizens. Tracking the evolution of capital is therefore a ... More


The United States Capital Stock, 1840–1900

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0003
Subject:
Economics and Finance, Economic History

This chapter describes and analyzes Gallman’s estimates of the value of the United States fixed capital stock (in current prices and in 1860 prices) at decade intervals, from 1840 to 1900. It ... More


Gallman’s Core Capital Stock Data

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0002
Subject:
Economics and Finance, Economic History

The chapter presents Gallman’s core data on the capital stock from 1774 to 1900. The data include the current-price series, the constant-price (in 1860 dollars) series, and the implicit price ... More


Capital and American Economic Growth, 1774–1980

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0004
Subject:
Economics and Finance, Economic History

This chapter places Gallman’s estimates of the value of the United States fixed capital stock, from 1774 to 1840 into the large context. The chapter discusses using the changes in the capital stock ... More


Investment Flows and Capital Stocks

Robert E. Gallman, Paul W. Rhode, Robert E. Gallman, and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0006
Subject:
Economics and Finance, Economic History

This chapter compares the two ways to estimate the value of the capital stock: by cumulating investment flows, following the perpetual inventory procedures developed by Raymond Goldsmith (1955); or ... More


Mining and Manufacturing

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0008
Subject:
Economics and Finance, Economic History

This chapter focuses on Mining and Manufacturing, detailing Gallman’s estimation of the current-price and constant-price (1860) values of the capital stock on a decadal basis from 1840 to 1900. It ... More


Wrapping Up

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0015
Subject:
Economics and Finance, Economic History

This chapter wraps up, providing brief summary thoughts about Gallman’s scholarship and the role of capital accumulation in economic growth.


Agriculture

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0007
Subject:
Economics and Finance, Economic History

This chapter focuses on Agriculture, detailing Gallman’s estimation of the current-price and constant-price (1860) values of the capital stock on a decadal basis from 1840 to 1900. It includes ... More


Wealth in the Colonial and Early National Periods

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0014
Subject:
Economics and Finance, Economic History

The chapter documents Gallman’s procedures to estimate the US capital stock and wealth levels over the colonial and early national periods. It compares his estimates and procedures to those of ... More


Transportation

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0010
Subject:
Economics and Finance, Economic History

This chapter details Gallman’s estimation of the current value and constant (1860) value capital stock on a decadal basis from 1840 to 1900 for the Transportation sector. It covers, in turn, ... More


Inventories

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0012
Subject:
Economics and Finance, Economic History

This chapter details Gallman’s estimates for inventory holdings of physical goods and of monetary metals (and changes in related claims on foreigners). It combines places the aggregate inventory data ... More


Communication and Electric Utilities

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0011
Subject:
Economics and Finance, Economic History

This chapter details Gallman’s estimation of the current value and constant (1860) value capital stock on a decadal basis from 1840 to 1900 for Communication and Electric Utilities. These include ... More


Consumer Durables

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0013
Subject:
Economics and Finance, Economic History

This chapter opened a window into Gallman’s stock data on consumer durables. It has offered his arguments regarding the quantitative and qualitative importance of these goods in the “long” nineteenth ... More


Nonfarm Real Estate and Tradee

Robert E. Gallman and Paul W. Rhode

in Capital in the Nineteenth Century

Published in print:
2020
Published Online:
September 2020
ISBN:
9780226633114
eISBN:
9780226633251
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226633251.003.0009
Subject:
Economics and Finance, Economic History

This chapter details Gallman’s estimation of the current value and constant (1860) value capital stock on a decadal basis from 1840 to 1900 for Non‑Farm Residential and Trade Real Estate and ... More


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