Preferences of the poor: Market participation and asset management of poor households in sixteenth-century Holland

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TY - JOUR

T1 - Preferences of the poor

T2 - Market participation and asset management of poor households in sixteenth-century Holland

AU - De Moor, Tine

AU - Zuijderduijn, Jaco

PY - 2013/5

Y1 - 2013/5

N2 - Our article aims to detect differences in behaviour towards the capital and land market of households of different sizes and levels of income. Participation in markets for real estate, capital, and ships was considerable, not only among middling and elite groups but also among the poor. Large households were most active in markets, incurring significantly greater debt. Poor households with a low supply of labour were relatively active, purchasing houses and ships, and incurring debts, possibly in order to cope with a lack of parental support. Middling-group households with a low supply of labour primarily sold houses and invested in the capital market, adjusting capital assets to declining labour supply at the end of their life cycle, thus creating cash rents to be able to survive old age.

AB - Our article aims to detect differences in behaviour towards the capital and land market of households of different sizes and levels of income. Participation in markets for real estate, capital, and ships was considerable, not only among middling and elite groups but also among the poor. Large households were most active in markets, incurring significantly greater debt. Poor households with a low supply of labour were relatively active, purchasing houses and ships, and incurring debts, possibly in order to cope with a lack of parental support. Middling-group households with a low supply of labour primarily sold houses and invested in the capital market, adjusting capital assets to declining labour supply at the end of their life cycle, thus creating cash rents to be able to survive old age.

U2 - 10.1093/ereh/het005

DO - 10.1093/ereh/het005

M3 - Article

VL - 17

SP - 233

EP - 249

JO - European Review of Economic History

JF - European Review of Economic History

SN - 1474-0044

IS - 2

ER -