FAILURE TO LAUNCH: COST OF LIVING AND LIVING STANDARDS IN PERU DURING THE 19TH

Based on a variety of archival sources, this paper presents estimations for cost of living and living standards for Lima, Peru during the 19(th) century. During this century Peru experienced deep swings in economic activity marked by the independence wars, the War of the Pacific, and a commodity boom. These new series show that a sizable inflationary period during the guano age had dampening effects on the living standards of the popular class. While living standards peaked by mid 1850s, GDP per capita did not do so until two decades later. These results suggest that the guano bonanza failed to lift working-class living standards above subsistence levels. Even though living standards climbed steadily, almost reaching those of England, all these gains were lost by the end of the century. RESUMEN Basado en diversas fuentes primarias, este articulo presenta estimaciones de costo de vida y estandares de vida para Lima, Peru durante el siglo XIX. Durante esta centuria este pais sufrio profundos vaivenes en la actividad economica debido a las guerras de la independencia, la guerra del Pacifico y a un auge monoexportador. Estas series delinean un importante proceso inflacionario durante la era del guano que tuvo efectos adversos en los estandares de vida de la clase popular. Mientras que los estandares de vida llegaron a su punto maximo en los mediados de la decada de los 50, el PIB per capita lo hizo dos decadas mas tarde. Estos resultados sugieren que la bonanza del guano no logro mejorar el bienestar economico de la clase popular de manera sustentable. A pesar de alcanzar niveles cercanos al ingles, estos beneficios se evaporaron al fin de siglo.