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Hard Driving and Efficiency: Iron Production in 1890

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  • Berck, Peter
Abstract
This paper shows that the best practice of American methods for producing iron in 1890 was slightly better than the methods employed in Great Britain. It argues that the difference in technique was not of sufficient magnitude to have any bearing on Britain's “decline” as an industrial power. Profits in America are shown to be quite large, and it is hypothesized that these profits arose because the Americans did not anticipate the growth in the demand for pig iron.

Suggested Citation

  • Berck, Peter, 1978. "Hard Driving and Efficiency: Iron Production in 1890," The Journal of Economic History, Cambridge University Press, vol. 38(4), pages 879-900, December.
    • Handle: RePEc:cup:jechis:v:38:y:1978:i:04:p:879-900_08
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    Cited by:

    1. Crafts, N. F. R. & Leybourne, S. J. & Mills, T. C., 1988. "Economic Growth In Nineteeth Century Britain: Comparisons With Europe In The Context Of Gerschenkron'S Hypotheses," Economic Research Papers 268342, University of Warwick - Department of Economics.
    2. Kanda Naknoi, 2008. "Tariffs and the Expansion of the American Pig Iron Industry, 1870-1940," Purdue University Economics Working Papers 1214, Purdue University, Department of Economics.
    3. Tahvonen, Olli & Salo, Seppo, 2001. "Economic growth and transitions between renewable and nonrenewable energy resources," European Economic Review, Elsevier, vol. 45(8), pages 1379-1398, August.

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