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Adam Smith and Amartya Sen: markets and famines in pre-industrial Europe

Cormac Ó Gráda ()

No 200218, Working Papers from School of Economics, University College Dublin

Abstract: How markets perform during famines has long been a contentious issue. Recent research tends to associate famine with market segmentation and hoarding. The evidence of this paper, based on an analysis of the spatial and temporal patterns of price movements during four famines in preindustrial Europe, is that markets functioned ‘normally’ in times of crisis.

Keywords: Famines--Europe; Markets--Europe; Food supply--Europe (search for similar items in EconPapers)
Date: 2002-08
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http://hdl.handle.net/10197/497 First version, 2002 (application/pdf)

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