Why did (pre‐industrial) firms train?: premiums and apprenticeship contracts in 18th century England
Chris Minns and
Patrick Wallis ()
Economic History Working Papers from London School of Economics and Political Science, Department of Economic History
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.
JEL-codes: N33 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
http://eprints.lse.ac.uk/41348/ Open access version. (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ehl:wpaper:41348
Access Statistics for this paper
More papers in Economic History Working Papers from London School of Economics and Political Science, Department of Economic History LSE, Dept. of Economic History Houghton Street London, WC2A 2AE, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager on behalf of EH Dept. ().