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14:00 | Applied Micro Research Seminar
Mikhail Poyker (Job Talk) “Economic Consequences of the U.S. Convict Labor System”
UCLA Anderson School of Management, Los Angeles, California, USA
Author: Michael Poyker
Abstract: I study the economic externalities of U.S. convict labor on local labor markets. Using newly collected panel data on U.S. prisons and convict-labor camps from 1886 to 1940, I show that competition from cheap prison-made goods led to higher unemployment, lower labor-force participation, and reduced wages (particularly for women) in counties that housed competing manufacturing industries. At the same time, affected industries had higher patenting rates. I find that the introduction of convict labor accounts for 16% slower growth in U.S. manufacturing wages. The introduction of convict labor also induced technical changes and innovations that account for 6% of growth in U.S. patenting in affected industries. I document that this reallocation of welfare from wage earners to capital owners had a long-lasting effect on equality of opportunities: intergenerational mobility of the bottom income quintile got worse, while it improved for the other quintiles.
Key words: Convict Labor, Labor Competition, Technology Adoption, Intergenerational Mobility, Incarceration Rates
JEL Codes: J31, J47, J62, N31, N32, O14, O33
Full Text: “Economic Consequences of the U.S. Convict Labor System”
17:00 | Special Event
Webinar: Studying PhD in Economics at CERGE-EI
Join some of our faculty, students and staff on March 1st, 17:00, for a webinar about the PhD in Economics program at CERGE-EI. We will be here to answer your questions about admissions process, study plans or the social life of our CERGE community. We are looking forward to meeting you all!
Program:
1) Presentation
Deputy Direcotr for Graduate Studies, The Head of Study Affairs Office and current PhD students will tell you more about the PhD program structure, the admissions process, and will give you a students' point of view.
2) Q&A session
This is your chance to receive immediate answers to your queries and questions posted via chat.
Do not miss this opportunity to learn more about our PhD program and admissions process. Places are limited, remember to register here to reserve your place!
