Real Wages Once More: A Response to Judy Stephenson
Judy Stephenson’s claim that institutional wage series like of those Greenwich Hospital overstate the earnings of building workers by 20-30% is examined, and, it is argued here, the conclusion is unpersuasive. Whatever adjustments to existing wage series are necessary in view of her new evidence would have no significant implications for real wages in England compared to the rest of the world. Consequently, Judy Stephenson’s findings do not call into question the high wage high wage explanation of the Industrial Revolution.