Power laws have descriptive properties in several areas of economic analysis. This article describes interesting power law relationships derived from business failure statistics accumulated in the late 19^th Century United States. Analysis of empirical data for multiple years shows that the value of business failures, accumulated by year and by state, consistently presents as a 2-regime power law, with the regime boundary occurring in the same rank location over several years. Further analysis showing other patterns in the accumulated data is presented along with suggestions why these properties may be relatively unique to this period in time. Further implications for simulation of historical economic patterns are examined with particular focus on the interplay between the geopolitical categories used to measure the analyzed statistics as well as the historical development of business in the post-bellum era.

1. FULLTEXT: The Cost of Failed Businesses in The Gilded Age: Applying Power Laws to Business Failures in the late 19^{th} Century United States, Microsoft Office Document, 0.1MB

• Legal notice:
  

  Copyright (c) Pielaszek Research, all rights reserved.
  The above materials, including auxiliary resources, are subject to Publisher's copyright and the Author(s) intellectual rights. Without limiting Author(s) rights under respective Copyright Transfer Agreement, no part of the above documents may be reproduced without the express written permission of Pielaszek Research, the Publisher. Express permission from the Author(s) is required to use the above materials for academic purposes, such as lectures or scientific presentations.
  In every case, proper references including Author(s) name(s) and URL of this webpage: https://science24.com/paper/14626 must be provided.