Post-Malthusian Population Model of the British Industrial Revolution in a Lewis’ Unlimited Supply of Labor Model
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To explain the “post-Malthusian” population equilibrium of theBritish Industrial Revolution, this study proposes a two-sector economy that produces both agricultural foods and manufacturing goods. A Lewis model is used to discuss the interrelations among populationincrease, capital accumulation, and structural change of theBritish economy in the 19th century. We place capital accumulationat the center of the model to explain the growth in population size. Structural changes in the economy that are induced by capital accumulationfavor the employment of labor in the manufacturingsector and trigger population increase. We examine this hypothesisby applying Granger causality tests to such variables as populationsize, capital accumulation, trade volume, and structural change inthe British economy during the Industrial Revolution.
Abstract
To explain the “post-Malthusian” population equilibrium of theBritish Industrial Revolution, this study proposes a two-sector economy that produces both agricultural foods and manufacturing goods. A Lewis model is used to discuss the interrelations among populationincrease, capital accumulation, and structural change of theBritish economy in the 19th century. We place capital accumulationat the center of the model to explain the growth in population size. Structural changes in the economy that are induced by capital accumulationfavor the employment of labor in the manufacturingsector and trigger population increase. We examine this hypothesisby applying Granger causality tests to such variables as populationsize, capital accumulation, trade volume, and structural change inthe British economy during the Industrial Revolution.
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