William Lazonick|Thomas H. Brush
The “horndal effect” in early U.S. manufacturing
Harvard University|University of Michigan–Ann Arbor
evaluate voluntary labor supply decisions transitory monthly piecerate schedules draw novel dataset workers originated selfsufficient farms new hampshire vermont massachusetts recruited textile mills eastern massachusetts early 19th century lifecycle models labor supply predict positive relationship labor supply transitory changes wages instead find negative wagelabor supply elasticities consistent referencedependent income targeting findings contribute contemporary debate empirical validity competing labor supply models also bring question common modeling conventions economic history used construction historical narratives