- Branko Milanović, Boško Mijatović
- Published Online:
- 25 Jun 2020
The real urban wage in an agricultural economy without landless farmers: Serbia, 1862–1910†
Abstract This article presents the first estimates of the welfare ratio for Serbia using nineteenth‐ and early twentieth‐century data on the wages of skilled and unskilled workers (including the part paid in kind) and the prices of goods in ‘subsistence’ and ‘respectability’ consumption baskets. It finds stagnation in the unskilled wage, and a modest increase in the skilled wage. The article introduces several adjustments to conventional methodology in order to make it more relevant for predominantly agricultural societies.
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