What follows is an edited transcript of my conversation with Judy Stephenson. We discuss her work on the economic history of the Industrial Revolution, particularly as it pertains to early modern London.
Petersen: You’re listening to Economics Detective Radio. My guest today is Judy Stephenson of Oxford University’s Wadham college. Judy, welcome to Economics Detective Radio.
Stephenson: Thank you very much. It’s nice to be here.
Petersen: So, our topic for today is economic history. Specifically we’ll be looking at some interesting research Judy has done on wage rates in the early modern period in London. This period is particularly interesting because it’s the start of the Industrial Revolution which leads to a dramatic increase in the growth living standards and of technology and that trend of course is what has shaped our modern world and made it different from the world of the past. So, it’s very important of course to understand this period if we want to understand the world as it is now. So Judy, start by giving us historical background. What was the world like in the period you study?
Stephenson: Well, I work mostly on researching London, so urban environments. And London is very developed in this period between about 1600 and 1800. And London becomes the biggest city in the world during this period and as the biggest city in the world it’s hugely vibrant, some of the largest merchant houses in the world are there, banking is advanced and developing. Most of the occupations of London are tertiary or service sector, even at this early date. (more…)
Subscribe to Economics Detective Radio on iTunes, Android, or Stitcher.
The post Early Modern London, Wages, and the Industrial Revolution appeared first on The Economics Detective.
