"Cotton Is King" Problem Set

Due at lecture on Monday, September 22:

http://braddelong.posterous.com/delong-econ-113-cotton-is-king

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Comments

[Tiffany Yu]

I find it interesting that the authors calculated the direct cost of the war to the South to be less than the cost to the North, even after adjusting for the incomplete record keeping of the Confederate government.

I am unsure how the authors came up with an alternative actual stream to calculate the indirect cost of the war to the South. I thought there could be only one actual consumption rate.