Reposted by @sseitzecon.bsky.social
In preindustrial Japan, the widespread distribution of land among peasants led to lower wages and GDP per capita than in England, says Yuzuru Kumon of @manchester.ac.uk. #ResearchHighlight www.aeaweb.org/research/equ...
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East–West preindustrial wage divergence
The effects of land ownership on wages in Japan, 1600–1870