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| Author: | Edvinsson, R. Söderberg, J. |
| Title: | Prices and the growth of the knowledge economy in Sweden and Western Europe before the industrial revolution |
| Journal: | Scandinavian economic history review
2011 : VOL. 59:3, p. 250-272 |
| Index terms: | Sweden Western Europe history labour price level production methods production costs knowledge |
| Language: | eng |
| Abstract: | The article analyses the difference in the real prices of various goods and services in Sweden compared to other European countries before the Industrial Revolution. The relative price of knowledge-intensive goods such as iron, paper, salt and silver dropped due to increased productivity levels. This was caused by growing separation of labour and dispersion of knowledge. The real price of foodstuffs, however, rised, so the early modern Western Europen economy was characterised by cheap industrial goods relative to the price of food. |
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