From the early 1800s until after the Napoleonic wars were over in 1815, Great Britain had almost full employment to the point that “an increase in the number of laborers had the effect to throw some out of employment or to reduce the rate of wages for all.”
1800年代前半から1815年にナポレオン戦争が終わるまで、イギリスは「労働者数の増加が、何名かを失業に放り出すか、全体の賃金率を低下させる効果を持った」というほど、ほとんど完全雇用であった。