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Social savings

Leunig, Tim (2010) Social savings. Journal of Economic Surveys, 24 (5). pp. 775-800. ISSN 0950-0804

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Identification Number: 10.1111/j.1467-6419.2010.00636.x

Abstract

'Social savings' is a cliometric concept to measure the benefit to society of technological improvements. The terms are defined, and the relationship between social savings and consumer surplus, total factor productivity and growth accounting measures is discussed. We critically outline Fogel's original application of social savings to American railroads in 1890, before looking at subsequent uses of the concept, both to other transport improvements and to other technological changes more generally. The paper concludes by setting out areas to which social savings could be applied, as well as setting out guidelines that future economic historians should use when applying the technique, in order to maximize the likely usefulness of any such work.

Item Type: Article
Official URL: http://www.wiley.com/bw/journal.asp?ref=0950-0804
Additional Information: © 2010 Wiley-Blackwell
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Sets: Departments > Economic History
Research centres and groups > Spatial Economics Research Centre
Collections > Economists Online
Date Deposited: 02 Dec 2010 12:05
Last Modified: 03 Dec 2010 11:51
URI: http://eprints.lse.ac.uk/id/eprint/30135

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