Cheap Labor and Southern Textiles, 1880-1930
解释美国南部如何抢占棉纺织市场，强调资本积累和劳动力“成熟化”，并通过模拟发现1920年代纺织大萧条源于南北实际工资上涨，而非需求或进口趋势。
An interpretation of the Southern capture of the American cotton textile market is presented, emphasizing capital accumulation and a process of "maturation" of the labor force. The market was divided along lines of product quality, and the precise rate of convergence was governed by the pace of demand. Simulations of the system uncover the surprising fact that the Great Textile Depression, which began in the 1920s, is not attributable to trends in demand, imports, or a chronic tendency to overproduce, but to the increase in real wages that occurred in the South as well as in the North. Possible interpretations of this development are discussed.