The Irish rural economy 1844-54 : a general equilibrium approach to famine, relief and change
The crisis in the Irish rural econoll\Y wrought by the potato blight presents a challenging area for economic analysis. Despite terrible mortality and large scale emigration, there was a significant increase in livestock numbers. Any investigation of the mechanism by which these developments occurred immediately faces two distinct problems. Firstly there is the question of peasant economic behaviour - is it distinct from the neoclassical paradigm of the econofl\Y made up of individuals and firms? Secondly, there is the lack of comprehensive statistics. In response to these difficulties a rigorous model of the peasant economy is developed in the thesis. The theoretical structure provides a framework on which the historical evidence, which tends to be highly uneven in quantity and quality, may be hung and wrought into a pattern. Moreover, by being concrete, the historical evidence allows us to restrict the model's generality, making it a much more practical instrument. The defining characteristic of a peasant economy is taken to be the absence of a capital market. The peasant is simultaneously a producer and a consumer with his central economic decision being between present and future consumption. Since output
McGregor, Pat
History
The Irish rural economy 1844-54 : a general equilibrium approach to famine, relief and change. The crisis in the Irish rural econoll\Y wrought by the potato blight presents a challenging area for economic analysis. Despite terrible mortality and large scale emigration, there was a significant increase in livestock numbers. Any investigation of the mechanism by which these developments occurred immediately faces two distinct problems. Firstly there is the question of peasant economic behaviour - is it distinct from the neoclassical paradigm of the econofl\Y made up of individuals and firms? Secondly, there is the lack of comprehensive statistics. In response to these difficulties a rigorous model of the peasant economy is developed in the thesis. The theoretical structure provides a framework on which the historical evidence, which tends to be highly uneven in quantity and quality, may be hung and wrought into a pattern. Moreover, by being concrete, the historical evidence allows us to restrict the model's generality, making it a much more practical instrument. The defining characteristic of a peasant economy is taken to be the absence of a capital market. The peasant is simultaneously a producer and a consumer with his central economic decision being between present and future consumption. Since output
irish rural_economy general equilibrium famine relief change crisis irish rural work present challenge area economic analysis despite mortality large_scale emigration significant_increase livestock number investigation mechanism development occur immediately face two_distinct problem firstly question peasant economic behaviour distinct neoclassical paradigm make individual firm secondly lack comprehensive statistic response difficulty rigorous model peasant economy develop thesis theoretical structure provide_framework historical_evidence tend highly uneven quantity_quality may wrought pattern moreover concrete historical_evidence allow restrict model generality make much practical instrument define_characteristic peasant economy take absence capital market peasant simultaneously producer consumer central economic decision present_future consumption since output