The Decline of Textile Prices in England and British America Prior to Industrialization

The real and nominal prices of textiles in early modern England and British America declined substantially. For England, it is difficult to identify particular technological or organizational innovations, but the contribution of lower real wages, forced by competition with new European and Asian pro...

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Bibliographic Details
Published in:The Economic history review 1994-08, Vol.47 (3), p.483-507
Main Author: Shammas, Carole
Format: Article
Language:English
Subjects:
Calico
Colonies & territories
Consumer prices
Cotton
Economic history
History
Linen
Prices
Textile industry
Textile manufacture
Textiles
Weaving
Wool
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Summary:The real and nominal prices of textiles in early modern England and British America declined substantially. For England, it is difficult to identify particular technological or organizational innovations, but the contribution of lower real wages, forced by competition with new European and Asian producers, is more easily documented. Stabilization of prices occurred around 1700. In British America, the lowercost of eighteenth-century imported cloth is associated with improvements in shipping and marketing. Lower relative prices for textiles made them more affordable for English consumers. In the eighteenth-century colonies, low prices discouraged development of the domestic textile industry.
ISSN:0013-0117
1468-0289
DOI:10.2307/2597590