The Economic History Podcast

Prof. Tommy Bengtsson takes us through the historical effects of short term stresses on living standards and health outcomes. How did high food prices in the nineteenth century impact the mortality risk and fertility patterns of different income classes- did it change over time? How did fetal exposure to the Spanish flu affect later life outcomes? What drives the rise in the elderly share of the population and why does it matter for solving the problems facing many pension systems? In this interview, Prof. Bengtsson guides us through each of these considerations drawing on his wealth of research in these areas.

Today, we meet Prof. Luis Bértola to discuss the economic history of Latin America since the 1820s. We cover Luis' book with José Antonio Ocampo ('The Economic Development of Latin America since Independence') tracing the development paths of three selected regions through different economic epochs- how did each zone perform, what were the driving forces and what policies emerged in response to internal/external challenges. We finish by discussing the disappointing growth that has plagued the region since trade liberalization in the 1980s and explore some deep rooted problems. We finish our chat by presenting a host of potential (but difficult) solutions that the region may need to undertake.

In this episode, we chat with Assoc. Prof. Erik Bengtsson about his extensive work on income inequality. What is the capital share of National Income, why does it matter and why does it change? We discuss the role of democracy and the "Great Levelling" in equality that occurred in Sweden and elsewhere in the first half of the twentieth century. Erik finishes by revisiting old assumptions on the Kuznets curve of income inequality brought about by structural change. With highly disaggregated Swedish income data, we revisit the extensive shift from agriculture to industry over the period from 1870 and consider the importance of the income distribution in the farming sector before structural change takes place. Does the Kuznets curve still play out in the standard way if inequality was high in the traditional sector to begin with? 

In this episode, Prof. Kevin H. O'Rourke discusses some of his work on trade and globalization. We trace the beginnings of globalization, mention some problems with measuring it perfectly, and review some of the literature on tariffs and economic growth including Kevin's own papers. We review how the U.S. and the U.K. turned protectionist in different ways during the 1930s and contrast previous tariff levels with those of the present day. We finish with a discussion on how the "losers" of globalization have elected populist leaders, with the caveat that populism in its current form is markedly different to U.S. variety in the late 19th century.

Kim Oosterlinck, a professor and curator specializing in financial markets during wartime and art investment, dives into the peculiar financial landscape of occupied France. He reveals how the Nazi occupation imposed unique economic burdens and manipulated markets. The discussion uncovers the surprising rise of art as a safe investment amid chaos, alongside the complexities of asset valuation under duress. Oosterlinck also highlights how these historical insights shape our understanding of today's financial systems and art markets.

Prof. Bradford DeLong discusses 'Slouching Towards Utopia' exploring pre-industrial technological changes, industrialization prerequisites, the impact of the second industrial revolution on living standards, and post-war 'Pacific Rim' development. He compares European growth after the Marshall Plan and how it differed from previous economic growth episodes.

In this episode, we meet Assist. Prof. Jason Lennard to discuss his work on measuring fluctuations in the UK economy.  We cover the nature of the business cycle, how it is measured and how it has changed through time. We also consider the implications of rigid wages during economic downturns. We look at new evidence on the existence of "sticky wages" during the Great Depression in the UK, using disaggregated (instead of average) wage data.  Finally, we chat about the effects of policy interventions in managing UK economic cycles, which began in earnest during the twentieth century. Can monetary policy be effective in achieving economic objectives? 

In this episode, we meet Prof. Eric Schneider to discuss the use of data on heights in economic history as a measure of well-being. Eric discusses his use of the crew records on a British ship (in operation for over a century) and what such sources can reveal about human growth patterns over longer time horizons- are they simply a function of income or is there more to the picture? We also hear about variation across countries and note some dramatic changes in human growth patterns over the last century. Finally, Eric talks about the importance of revisiting old height data with new insights from the medical literature and applies this framework to the existing data on slave children.

Prof. Leandro Prados de la Escosura challenges the conventional GDP measurement, discussing improvements in health and education not necessarily mapping on to GDP per capita. He introduces new metrics and explores the relationship between economic liberty and well-being. The podcast delves into global equity and well-being beyond traditional economic indicators, shedding light on the complexity of factors influencing human welfare.

Prof. Robert Gordon discusses U.S. growth since the Civil War, contrasting technological breakthroughs in different periods. The chapter explores the factors behind increased productivity in American history. The differences between the late 19th and 20th centuries are highlighted, as well as the impact of technology on productivity. The potential of artificial intelligence to boost productivity is explored, and obstacles to future economic growth in the U.S. are discussed.