Have one to sell? Sell on Amazon
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more
See all 2 images

Railroads and American Economic Growth: Essays in Econometric History Paperback – March 1, 1970


See all 2 formats and editions Hide other formats and editions
Amazon Price New from Used from
Hardcover
"Please retry"
$11.80
Paperback
"Please retry"
$305.53 $56.41
Best%20Books%20of%202014
NO_CONTENT_IN_FEATURE

Best Books of the Year
Best Books of 2014
Looking for something great to read? Browse our editors' picks for 2014's Best Books of the Year in fiction, nonfiction, mysteries, children's books, and much more.

Product Details

  • Paperback: 315 pages
  • Publisher: The Johns Hopkins University Press (March 1, 1970)
  • Language: English
  • ISBN-10: 0801811481
  • ISBN-13: 978-0801811487
  • Product Dimensions: 9.8 x 7.9 x 0.6 inches
  • Shipping Weight: 1.5 pounds
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (1 customer review)
  • Amazon Best Sellers Rank: #2,870,322 in Books (See Top 100 in Books)

Important Information

Ingredients
Example Ingredients

Directions
Example Directions

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

3.0 out of 5 stars
5 star
0
4 star
0
3 star
1
2 star
0
1 star
0
See the customer review
Share your thoughts with other customers

Most Helpful Customer Reviews

16 of 18 people found the following review helpful By Paul Moreno on June 22, 2010
Format: Paperback Verified Purchase
In this important early work of historical economics Fogel examines the impact of railroads on the 19th c. US economy, concluding that it was not the main driver of growth, only contributing a small fraction to GDP.

Railroads greatly lowered the cost of transport, from 24 cents per ton-mile by wagon to less than one cent for rail, although the Civil Engineers criticized the wagon rate as too high but the CE's did not include the driver's time. David Ames Wells (1891) gave an example which from which the cost by wagon can be calculated at 16 cents per ton-mile.

Fogel presented an argument that the economy could have grown almost as much using water transportation by an extension of the canal system to include proposed projects that were abandoned with the advent of rails. However, as Fogel admits, the pattern of settlement would have been different. Also, Fogel overlooks the fact that some water routes would have been many times longer than rail routes. Also, railroads were essential for moving coal and iron ore and without them a place like Birmingham, AL could not have become a steel center after the Civil War.

According to Fogel, railroads did not use as much iron as had been generally assumed, consuming only about 25% of production, while nails, hardware, shovels and other tools used more iron. When steel rails were mass produced in the 1870's they quickly replaced iron rails that only lasted 10 years. In "A Nation of Steel (Misa) and "Men, Machines and Modern Times" (Morison) we are told that almost all of the steel went to rails. The expansion of railroads was dramatic after the introduction of steel, with a near doubling of mileage each decade from 1870-90.

The book contains numerous graphs and tables to support Fogel's analysis.
Read more ›
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again