+ + +
+ "It is now time to take a broader look at the connections between the rise of merchant capitalism, in which slavery played a central role, and British economic growth." Nuala Zahedieh on William Forbes and the copper industry's role in colonial markets. Link.
+ "Our estimates show that private equity ownership increases the short-term mortality of Medicare patients by 10%, implying 20,150 lives lost due to PE ownership over our twelve-year sample period." By Atul Gupta, Sabrina T. Howell, Constantine Yannelis, and Abhinav Gupta. Link.
+ In Bloomberg, Catherine Traywick, Mark Chediak, Naureen S. Malik, and Josh Saul on what went wrong with the Texas electric grid. Link.
+ "This article argues the Fed rescues banks not because it is captured by financial interests, but because it is captured by the paradigm of systemic risk." By Onur Özgöde. Link. h/t Paul
+ "Within local industries over time, a 10% increase in the average wage is associated with a 0.15% decrease in the number of violations per employee and a 4% decrease in fines per dollar of pay." Ioana Marinescu, Yue Qiu, and Aaron Sojourner on wage inequality and labor rights violations. Link.
+ Carolyn Sissoko on the collateral supply effect in central bank policy. Link.
+ "The continuity of foreign direct investment-oriented growth is traced to the corporate politics of business-state elite deals." Dorothee Bohle and Aidan Regan compare growth models in Hungary and Ireland. Link.
+ Javier D. Donna and Jose-Antonio Espin-Sanchez examine water theft as social insurance in Spain, 1851-1948. Link.
+ "Manchuria (Northeast China), which attracted millions of migrants from North China during the first half of the twentieth century, experienced a devastating pneumonic plague outbreak in 1910–11. Using data from a rural household survey in the mid-1930s, we explore how the post plague conditions in various villages affected migrant cohorts’ long-term wealth accumulation. We find that the migrant households that moved to plague-hit villages soon after the plague ended prospered the most: they owned at least 112% more land than migrant households that either moved elsewhere or migrated to the same village before or long after the plague outbreak." By Dan Li and Nan Li. Link.
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