A Price Index for Rural Massachusetts, 1750–1855

Winifred B. Rothenberg

The Journal of Economic History, 1979, vol. 39, issue 4, 975-1001

Abstract: Students of agricultural history, of pre-industrial labor productivity, of New England town histories, and, especially, of pre-1840 rates of economic growth have long needed a price index of Massachusetts farm prices for this period. The article presents two indexes, covering 15 farm products, weighted by their relative importance, first in 1800, then in 1855. Among the several issues raised by the behavior of farm prices between 1750 and 1855, one of the most interesting may be what this behavior reveals about the market imbeddedness of these farmers, particularly in view of the fact that the prices come, not from market quotations, but from farm account books.

Date: 1979
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