By John H. Adler (eds.)
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E. net changes in inventories, foreign claims and producer durable equipment). 4 United Kingdoms (a) From 1870 to 1913 there were long swings in additions to population inverse to those in the United States. (b) The long swings in British domestic capital formation were inverse to those of population-sensitive capital formation in the United States. (c) Long swings in British capital exports and in British and European over-sea migration were coincident with the long swings in population-sensitive capital formation in the United States.
Williamson, op. , pp. 157-158. 22 Thomas- International Capital Movements to 1913 countries which have passed from colonial to independent status. One of the ideas which has been fairly widely accepted is that the underdeveloped countries of the second half of the nineteenth century had the worst of both worlds, as consumers of manufactured goods and as producers of food and raw materials. If this proposition is true, one can hardly blame the peoples of the poorer countries for wishing to make certain that a similar fate will not befall them in the second half of the twentieth century.
122-125. • E. H. Phelps-Brown, 'The Course of Wage Rates in Five Countries, 18601939', Oxford Economic Papers, ii, 2, 1950. s S. Kuznets, op. , p. 13. Capital Movements and Economic Development frozen at the level needed for subsistence and the expansion of the capitalist sector raised the share of profits in the national income but not wages. The scarcity of entrepreneurs and skilled labour was often aggravated by non-competing groups and immigration. As Professor Myint has shown, ... in the latter half of the nineteenth century immigrant labour, particularly from India, may really be regarded as an international commodity having a uniform price rather than as a factor of production.