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This paper uses a new pre-1940 Third World data base documenting real wages and relative factor prices to explore their determinants. There are three possibilities: external price shocks, factor endowment changes, and technological change. As the paper's title suggests, technological change is an unlikely explanation. The paper lays out an explicit econometric agenda for the future, although more casual empiricism suggests that external price shocks were doing most of the work, and declining-transport-cost-induced commodity price convergence in particular. Real wages in Asia, the Middle East, and Latin America never showed any signs of catching up with the European industrial leaders prior to 1914 hold their own. The ratio of wages to land rents, on the other hand, declined up to World War I and so did the ratio of wages to GDP per capita. The trend reversed thereafter. These relative factor price movements help sharpen our understanding of the sources of growth (or lack of it) in Asia and Latin America prior to 1940. They also offer strong hints about changes in income distribution there.

Economic development. --- Economic history. --- International economic relations. --- Keynesian economics.

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Collected here are wide-ranging contributions to economics in general, and to post-Keynesian economics in particular by leading economists.

Keynes, John Maynard --- Harcourt, Jeoffrey Colin. --- Keynesian economics. --- Keynesian economics --- Economics --- Economic policy --- Business & Economics --- Economic Theory --- Methodology --- History --- Economic policy. --- Methodology. --- History. --- Harcourt, Geoffrey Colin. --- Economic nationalism --- Economic planning --- National planning --- State planning --- Post-Keynesian economics --- Harcourt, Geoffrey Colin --- Harcourt, Geoff, --- Planning --- National security --- Social policy --- Schools of economics --- Harcourt, G. C. --- Harcourt, Geoff

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Keynes, John Maynard --- Keynesian economics --- Economists --- Keynésianisme --- Economistes --- Biography --- Biographie --- Keynes, John Maynard, --- Keynésianisme --- KEYNES (JOHN MAYNARD), ECONOMISTE BRITANNIQUE, 1883-1946 --- BIOGRAPHIES

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Argent (monnaie) --- Business cycles --- Conjoncture économique --- Conjunctuur --- Cycles économiques --- Economic cycles --- Economic fluctuations --- Economisch evenwicht --- Equilibre (Economie) --- Equilibre économique --- Equilibrium (Economics) --- Evenwicht (Economie) --- Geld --- Keynesiaanse theorie --- Keynesian economics --- Keynésienne [Théorie ] --- Money --- Théorie keynésienne --- Economics --- -Money --- 330.156 --- Disequilibrium (Economics) --- Economic equilibrium --- General equilibrium (Economics) --- Partial equilibrium (Economics) --- Stagnation (Economics) --- Statics and dynamics (Social sciences) --- Cycles --- Financial crises --- Currency --- Monetary question --- Money, Primitive --- Specie --- Standard of value --- Exchange --- Finance --- Value --- Banks and banking --- Coinage --- Currency question --- Gold --- Silver --- Silver question --- Wealth --- Economic theory --- Political economy --- Social sciences --- Economic man --- Post-Keynesian economics --- Schools of economics --- Methodology --- Keynes, John Maynard, --- Keĭns, Dzhon Maĭnard, --- Kʻai-yin-ssŭ, --- Kʻai-en-ssu, --- Keynes, J. M. --- Kenis, C. M., --- Keyns, C. M., --- Keynes, John Maynard --- Keynesian economics. --- Money. --- Business cycles. --- Labour market --- Methodology of economics --- Methodology. --- Keynes, John Maynard, - 1883-1946. --- Economics - Methodology.