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Why did (pre‐industrial) firms train?: premiums and apprenticeship contracts in 18th century England

Minns, Chris and Wallis, Patrick (2011) Why did (pre‐industrial) firms train?: premiums and apprenticeship contracts in 18th century England. Economic History working papers, 155/11. Department of Economic History, London School of Economics and Political Science, London, UK.

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Abstract

Despite poor information flows, high levels of uncertainty, and low completion rates, training through apprenticeship provided the main mechanism for occupational human capital formation in pre‐industrial England. This paper demonstrates how training premiums complemented the formal legal framework surrounding apprenticeship to secure training contracts. Premiums compensated parties for the anticipated risk of default, but in most trades were small enough to allow access to apprenticeship training for youths from modest families.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/collections/economicHistory/
Additional Information: © 2011 The author
Library of Congress subject classification: D History General and Old World > DA Great Britain
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
Journal of Economic Literature Classification System: N - Economic History > N3 - Labor and Consumers, Demography, Education, Health, Income, and Wealth > N33 - Economic History: Labor and Consumers, Demography, Education, Health, Income and Wealth: Europe: Pre-1913
Sets: Departments > Economic History
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 155/11
Date Deposited: 12 Jan 2012 11:18
URL: http://eprints.lse.ac.uk/41348/

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