{"title":"Economic inequality and social mobility in preindustrial societies: What we know, what we don't (but should) know","authors":"Guido Alfani","doi":"10.1111/ehr.70122","DOIUrl":"https://doi.org/10.1111/ehr.70122","url":null,"abstract":"<p>In recent years economic inequality has become a major research topic in economic history. However, much remains to be done to complete our knowledge of long-term distributive dynamics. This article highlights several promising avenues for future research, focusing on the preindustrial period. In particular, it identifies the main gaps that still need to be filled in reconstructions of wealth and income distributions; it argues for a closer interaction between scholars working on economic inequality and those working on historical gross domestic product (GDP); and it highlights socio-economic mobility as a closely related, but much less explored, research area. Shifting the focus from inequality to mobility, and more generally considering how human agency helped shape the aggregate long-term dynamics we observe, requires examining individual actors and their specific motivations more closely. This is especially true for the socio-economic elites who, when faced with a perceived threat of status loss, could attempt to capture political institutions, thus securing their control over valuable public resources, whilst at the same time acting as ‘enemies of mobility’. The article also highlights how this kind of research speaks directly to current societal concerns.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 3","pages":"871-899"},"PeriodicalIF":1.6,"publicationDate":"2026-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70122","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148534189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Giovanni Federico, Alessandro Nuvolari, Leonardo Ridolfi, Michelangelo Vasta
{"title":"Italy's long-term economic performance: GDP estimates from 1300 to 1861","authors":"Giovanni Federico, Alessandro Nuvolari, Leonardo Ridolfi, Michelangelo Vasta","doi":"10.1111/ehr.70059","DOIUrl":"https://doi.org/10.1111/ehr.70059","url":null,"abstract":"<p>We present new demand-side estimates of gross domestic product (GDP) per capita for Italy and its two macro-areas, Centre-North and South, for the pre-industrial period (1328–1861) on the basis of a novel dataset including almost 100,000 observations from 169 different locations. Our estimates confirm the chronology of the ‘Little Divergence’ relative to the Netherlands and England. Italy maintained its leading position relative to the other European countries and was overtaken by France and Germany only in the first half of the nineteenth century. GDP per capita trends differed between Centre-North and South determining a ‘slow-motion’ divergence of the South from the fifteenth century to political unification.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 3","pages":"1136-1174"},"PeriodicalIF":1.6,"publicationDate":"2026-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148534402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Two paths to prosperity: Culture and institutions in Europe and China, 1000–2000 Avner Greif, Joel Mokyr, and Guido Tabellini, (Princeton University Press, 2025. Pp. 533. ISBN 9780691265940. Hbk £35).","authors":"Graham Brownlow","doi":"10.1111/ehr.70135","DOIUrl":"https://doi.org/10.1111/ehr.70135","url":null,"abstract":"","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 3","pages":"1265-1267"},"PeriodicalIF":1.6,"publicationDate":"2026-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148534344","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Stefano Battilossi, Stefan O. Houpt, Miguel Artola Blanco
{"title":"Spanish stock returns, growth, and inflation, 1900–2020","authors":"Stefano Battilossi, Stefan O. Houpt, Miguel Artola Blanco","doi":"10.1111/ehr.70058","DOIUrl":"https://doi.org/10.1111/ehr.70058","url":null,"abstract":"<p>This paper studies equity returns in the Madrid Stock Exchange and their connections with the macroeconomy from the emergence of a stock market around 1900 to its ‘big bang’ at the turn of the twenty-first century. Using high-quality data from primary sources and the methodology of the modern IBEX35 (published since 1987), we constructed an original index, the historical IBEX (H-IBEX), for the period 1900–87. With 120 years of monthly data, we empirically test the ability of stock prices to predict real economic activity, provide a detailed chronology of market cycles, and analyse their time-varying characteristics across stages of market development and macroeconomic regimes. We also assess the role of Spanish equities as an inflation hedge and compare their long-run investment performance in an international perspective. Our data confirm that the Civil War (1936–9) had only a moderately negative impact on equity wealth compared with other economic disasters of the twentieth century. In the long run, Spanish equities underperformed most European markets due to a massive destruction of financial wealth in the stagflation of the 1970s–80s and the transition to an open economy after decades of protectionism. This was the true ‘rare disaster’ suffered by Spanish investors in the twentieth century.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 3","pages":"922-956"},"PeriodicalIF":1.6,"publicationDate":"2026-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148532769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Religious politics and the limits of redistribution: The rise and fall of family allowances in Spain, 1926–58","authors":"Guillem Verd-Llabrés","doi":"10.1111/ehr.70040","DOIUrl":"https://doi.org/10.1111/ehr.70040","url":null,"abstract":"<p>After the Second World War, family allowances became a cornerstone of social spending in western Europe. Whilst religion is often highlighted as a driver of this policy, the role of political Catholicism remains contested, particularly in southern Europe. This paper examines the Spanish case, tracing the development of family allowances from their inception in 1926 to the conclusion of early Francoist labour legislation in 1958. It connects the policy preferences of political factions and interest groups to the evolution of family allowances under three political regimes. The study argues that understanding the role of social groups, particularly Catholics, requires addressing both their social policy goals and redistributive preferences. It shows Catholic cadres’ consistent advocacy for family allowances as public support for the family wage since the 1920s, despite resistance from employers and the labour movement. Their preference for corporatism and limited redistribution shaped their framing as a social insurance and occupational scheme, implementing it even before the end of the Spanish Civil War as Catholic influence increased. However, the redistributive preferences of Catholics imposed structural limits to the scheme's expansion, particularly in agriculture, further constrained by competition with Falange and the dictatorship's resistance to tax reform.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 3","pages":"957-986"},"PeriodicalIF":1.6,"publicationDate":"2026-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70040","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148532833","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Segmentation and gender wage disparities in the early industrial workforce: Insights from Arkwright's Lumford Mill, 1786–1811","authors":"Alexander Tertzakian","doi":"10.1111/ehr.70019","DOIUrl":"https://doi.org/10.1111/ehr.70019","url":null,"abstract":"<p>This article examines the gender wage gap and wage setting in the early cotton spinning factories of the industrial revolution, with a specific focus on Richard Arkwright's Lumford Mill in Bakewell, Derbyshire. The research links workers from the mill's wage books with parish baptism records to estimate ages and construct age–wage profiles in the spinning department. Findings show a significant gender wage gap emerging in adulthood, with women's wages stagnating while men advanced to higher-paying roles such as overseers, indicating limited advancement for women. However, there is little evidence of gender wage discrimination among child workers. The gendered segmentation of the spinning workforce towards adulthood was the main cause of the wage gap. The analysis also reveals that weekly wage rates for children increased annually until adulthood. In rural mills such as Arkwright's, attracting labour was crucial. Yearly wage increases incentivized loyalty and ensured workforce stability, despite potential mismatches between wages and worker productivity.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 2","pages":"471-495"},"PeriodicalIF":1.6,"publicationDate":"2026-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148012047","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Peasants into Muslims: Poverty and conversions to Islam in Ottoman Bosnia","authors":"Leonard Kukić, Yasin Arslantas","doi":"10.1111/ehr.70022","DOIUrl":"https://doi.org/10.1111/ehr.70022","url":null,"abstract":"<p>Whilst economic historians have invested substantial effort into understanding the economic consequences of religion, they have invested less effort into understanding the determinants of religious affiliation. The lack of knowledge about determinants of religious affiliation seems particularly striking in the case of Southeastern Europe. Populated by Catholics, Orthodox Christians, and Muslims, the region has been historically characterized by a high degree of religious diversity – an important determinant of comparative development patterns. This paper analyses one specific example of religious formation in Southeastern Europe – conversions to Islam in early modern Bosnia. Employing village-level data from the Ottoman tax registers of 1468 and 1604, we find that settlements with lower income per household were more likely to convert to Islam. Given that premodern Bosnia was characterized by low agricultural yields, this finding implies that poverty induced peasants to convert to Islam. We hypothesize that the poll tax – a regressive tax removed upon conversion to Islam – stimulated the poorer Bosnians to adopt Islam upon the Ottoman conquest of their region.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 2","pages":"600-633"},"PeriodicalIF":1.6,"publicationDate":"2026-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70022","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148012018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Controlling Contagion: Epidemics and Institutions from the Black Death to Covid. Sheilagh Ogilvie, , (Princeton University Press, 2025. Pp.544. ISBN 9780691255569. HbK £38)","authors":"Patrick Wallis","doi":"10.1111/ehr.70104","DOIUrl":"https://doi.org/10.1111/ehr.70104","url":null,"abstract":"","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 2","pages":"855-856"},"PeriodicalIF":1.6,"publicationDate":"2026-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148012025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Wealth inequality and epidemics in the Republic of Venice (1400–1800)","authors":"Guido Alfani, Matteo Di Tullio, Mattia Fochesato","doi":"10.1111/ehr.70037","DOIUrl":"https://doi.org/10.1111/ehr.70037","url":null,"abstract":"<p>This article analyses wealth inequality in the Republic of Venice during 1400–1800. The availability of a large database of homogeneous inequality measurements allows us to produce the most in-depth study of the factors affecting inequality at the local level available thus far for any preindustrial society. Additionally, the occurrence of a major plague during 1629–30, an event that caused the death of 40 per cent of the inhabitants of the area, allows us to contribute to the growing literature on the distributional consequences of epidemics. Across our dataset, of the three factors that recent literature has discussed as possibly able to explain overall inequality trends in the long run – economic development, population, and regressive taxation – regressive taxation set by the central state had a relatively strong impact. We also find that locally, differences in inequality levels were determined by closeness to the capital city of Venice, altitude, and suitability of land to specific crops. Regarding the impact of the plague, we demonstrate that whilst the 1630 plague was different from the medieval Black Death as it did not lead to large-scale and enduring levelling, it did cause a structural break in the way in which some key variables affected inequality.</p>","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 2","pages":"811-849"},"PeriodicalIF":1.6,"publicationDate":"2026-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ehr.70037","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148012069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Making Do: Britons and the Refashioning of the Postwar World. , Susan Carruthers, (Cambridge University press, 2025. Pp. 400. ISBN 9781009464284. HbK £25).","authors":"Jim Tomlinson","doi":"10.1111/ehr.70105","DOIUrl":"https://doi.org/10.1111/ehr.70105","url":null,"abstract":"","PeriodicalId":47868,"journal":{"name":"Economic History Review","volume":"79 2","pages":"865-866"},"PeriodicalIF":1.6,"publicationDate":"2026-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148012071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}