![]() March 8, There is no exact date for this idiom, but it's supposed to have come about between 1400s and 1600s. You should understand the mention though to define the difference in the two. ![]() Just because it is a conversation piece, rhetorically mentioning currency doesn't make them similar. "Two cents" is more an offering of an opinion. A rhetorical offering of money shows genuine commitment to listen and to lend an ear to someone who appears to be bothered or upset by something on their mind. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research."Penny for your thoughts" is a polite gesture to listen to someone and show concern. 2049808 and the Economic History Association. Schmitz acknowledges the support by NSF grant No. Heblich acknowledges the support of the ORA Grant ES/V013602/1 (MAPHIS). Hanlon acknowledges the support by NSF grant No. Finally, we thank Riley Alexander, Devin Bissky Dziadyk, Griffin Carroll, Chloe Chiles, Carly Genovere, Henry Goldberg, Rowan Isaaks, John Landry, Jessica Moses, Rachel Norsby, Nicholas Richmond, Andrew Warren, Calee White, and Niel Yocom for excellent research assistance. We also thank seminar participants at Georgetown, Marquette, the Max Planck Institute for Innovation and Competition, NYU Abu Dhabi, USC, and Vanderbilt as well as the 2019 BSE Summer Forum Workshop on Geography, Trade, and Growth and the 2019 UEA meeting. We thank Bill Collins, Ezra Oberfield, Kevin O'Rourke, Esteban Rossi-Hansberg, Nico Voigtlaender, and Ariell Zimran for useful discussions and comments. This evidence lends direct empirical support to an extensive theoretical literature in economic growth and urban economics positing that more ideas can emerge from communication between individuals. ![]() Our results provide quantitative causal estimates showing how a fall in communication costs can increase the rate at which scientific knowledge is exchanged and new ideas and technologies are developed. ![]() We study the impact of this reform on the production of scientific knowledge using citation links constructed from a leading academic journal, the Philosophical Transactions, and the impact on the development of new technology using patent data. The result was a large spatially-varied reduction in the cost of communicating across locations. This reform replaced the previous system of expensive distance-based postage fees with a uniform low rate of one penny for sending letters anywhere in the country. How do communication costs affect the production of new ideas and inventions? To answer this question, we study the introduction of the Uniform Penny Post in Great Britain in 1840. Transportation Economics in the 21st Century.Training Program in Aging and Health Economics.The Roybal Center for Behavior Change in Health.Retirement and Disability Research Center.Measuring the Clinical and Economic Outcomes Associated with Delivery Systems.Improving Health Outcomes for an Aging Population.Early Indicators of Later Work Levels, Disease and Death.Conference on Research in Income and Wealth.Boosting Grant Applications from Faculty at MSIs.Productivity, Innovation, and Entrepreneurship.International Finance and Macroeconomics.
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