2009/03 | LEM Working Paper Series | |
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Bennet Woodcroft and the Value of English Patents, 1617-1841 |
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Alessandro Nuvolari, Valentina Tartari |
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JEL Classifications | ||
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N73, O34
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Abstract | ||
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We examine the potentialities of a new indicator for measuring the
value of English patents in the period 1617-1841. The indicator is
based on the relative visibility of each individual patent in the
contemporary technical and legal literature as summarized in Bennet
Woodcroft's Reference Index of Patents of Invention. We conclude that
the indicator provides a reasonable proxy for the value of patents and
that it can be usefully employed to shed light on the timing and
nature of innovation during the Industrial Revolution. In particular,
our indicator offers a suitable reconciliation between the patent
records evidence and the Crafts-Harley view of the Industrial
Revolution. |
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