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State Per-Capita Income Change Since 1950: Sharecropping's Collapse and Other Causes of Convergence (Contributions in Economics and Economic History) by Leonard F. Wheat and William H. Crown is a nonfiction available to read on EtoBox.

What is State Per-Capita Income Change Since 1950: Sharecropping's Collapse and Other Causes of Convergence (Contributions in Economics and Economic History) about?

<p>This book refutes prevailing theories that attribute post-1950 state per capita income convergence to (1) neo-classical adjustment mechanisms, (2) institutional sclerosis, and (3) southern industrialization. Wheat and Crown argue that southern income was low because of slavery's legacy—sharecropping, agricultural dependence, low urbanization, poor education, high Black population percentages, and low wage rates. The legacy's dominant feature was the sharecropper-tenant farmer system, which replaced slavery. Sharecropping was the foundation of southern poverty. Sharecropping's collapse, beginning around 1950, affected all of the other features of slavery's legacy. For example, millions of sharecroppers out-migrated from the South, shifting poverty to the North and lowering the South's Black percentage. This out-migration, white in-migration, and the civil rights movement jointly raised educational attainment in the South, further boosting southern income. Southern industrialization had only a marginally significant effect. In 1950's high income region, the West, the transport cost element in the price of manufactured goods shrank because of (1) transportation improvements and (2)

Who reads State Per-Capita Income Change Since 1950: Sharecropping's Collapse and Other Causes of Convergence (Contributions in Economics and Economic History)?

Author

Leonard F. Wheat and William H. Crown

Publisher

Praeger; Bloomsbury

Published

1995

Language

EN

ISBN

9780313031588

Category

nonfiction

Subjects

Economics, Management, History