The Value of Human Capital during the Second Industrial Revolution—Evidence from the U.S. Navy

This paper explores the role of human capital on earnings and other measures of job performance during the late 19th century. During this time, U.S. Naval ocers belonged either to a regular or an engineer corps and had tasks assigned to their specialized training and experience. To test for the eects of specialized skills on performance, we compile educational data from original-source Naval Academy records for the graduating classes of 1858 to 1905. We merge these with career data extracted from official Navy registers for the years 1859 to 1907. This compilation comprises one of the longest and earliest longitudinal records of labor market earnings, education and experience of which we are aware. Our results suggest that greater technical skill translated into higher earnings early in careers, but wage premia diminished as careers progressed. From this evidence we argue that technical progress was more skill-depreciating than skill-biased during this period.

FINANCIAL CONTROL AND VARIABLE AMORTIZATION UNDER UNCERTAINTY: AN APPLICATION TO TEXAS RICE FARMS

Agricultural Finance,

Naval Engineering and Labor Specialization during the Industrial Revolution

This paper explores the roles of capital- and technology-skill complementarities in labor allocation decisions within the U.S. Navy. During the latter 19th century the ocer corps was highly specialized, and was split between groups of line and sta ocers. This was also a time of dramatic technological changes which aected nearly every facet of naval opera- tions. Specically, naval technological developments tended to be \engineering-biased," in that they raised the relative importance of engineer-oriented skills. This created a dilemma for the Navy, as it navigated the balance between the benets of a specialized workforce implementing increasingly complex technologies with rising communication and coordina- tion costs. We rst document the extent of capital- and technology-skill complementarities within the navy which fostered greater labor specialization. We then show how the Navy vitiated the specialized human capital of ocers by blending the corps. The study oers in- sights into how an industry undergoing wrenching technological changes managed its labor and human capital allocation to help the U.S. become a world class naval power.

Adaptive thresholding in dynamic scene analysis for extraction of fine line

This paper presents an adaptive threshold method whereby a fine thin line of one-pixel width lines could be detected in a gray level images. The proposed method uses the percentage difference between the mean of the pixels within a window and the center pixel. The minimum threshold value however is heuristically set to 32. If the percentage difference is greater than 40% then the threshold value will be set to the difference value. This method has been applied in detecting moving objects with fine lines and the results showed that the method was able to pickup straight thin edges that belong to the moving objec