Railroads and american economic growth essays in econometric history 1964

Fogel is often described as the father of modern econometric history and Neohistoricals. The Union Pacific Railroad: In short,Fogelhasassumed that the path of development wouldhavebeenthe same without railroads.

With the beginnings of the agricultural revolution, the [Malthusian] trap began to fall apart. He died on June 11,in Oak Lawn, Illinois of a short illness, aged At another level,onemustasksome hardquestions abouta stillmorebasic assumption: He advised many students who went on to become prominent economic historians, so that many economic historians in the United States trace their academic lineage to him.

By thismeasure, Fogelargues, evena 7 per centsaving attributable to all railroad operations in wouldbe a generous overestimate. NowFogelcorrectly avers that to attribute such a formative influence to raftroads,one must have in mind a modelof "whatmighthavehappened" withoutrailroads.

Railroadconstruction generated new demands, stimulating industrial growth, especially in the heavyindustries; andtransfercost savings provided byrailroads, theargument runs, expedited regional specialization andintegration of a trulynational eeonomy--a formula of analysis hardly unfamiliar tostudents of Canadian development.

This contradicted the argument of earlier Southern historians. For the rest, although sometimes willingto rejectoldandlargelydiscredited interpretations, Whiteisusually content tomeld, without credit totheirauthors, thenowstandard interpretations ofthecoming ofthewarandthepeace of Ghent.

The Economics of American Negro Slavery, 2 volumes, Controlling for correlated natural attributes such as the weather and including proximity measures which aprio Fogelbases hiscase upona computation of social savings attributable to railroads intheeconomy of Although historians have long employed counterfactual arguments — sometimes it seems without realizing it — to most historians the idea of an explicit counterfactual was still a very foreign notion in the early s.

Not long before this, Northp. Johns Hopkins Press, The potential rail and water shipping routes from West to East were easily identified, and the costs of rail and water shipment were well known. In the case of iron, railroads, except at the end of the period, accounted for only a minor fraction of the output change overall, including the later period, it was still only 17 percent ; for coal, it was less than 5 percent; for lumber, barely 5 percent; in the case of transport equipment only 25 percent only half of the change accounted for by vehicles drawn by animals ; and for machinery it was less than 1 percent.

Professor Fogel never actually solved the linear programming problem; his choice of routes was based on what he assumed the solution would have been. Figure 2 picks up the story in According to cliometric economist Claudia Goldinthe success of the cliometric revolution had as an unintended consequence the disappearance of economic historians from history departments.

He admits that the North Atlantic region may not provide an adequate representation of the entire country, but he argues that it would be too expensive and difficult to extend this direct measure of savings to the rest of the country.

For example, Fogel made no adjustment for changes in non-rail transport that might have been made had there been no railroads: Those laws, he says, are based on rational choice and maximization as they operate in well-developed markets, and do not apply to economies other than those of the capitalist West in the modern era.

Additional Information In lieu of an abstract, here is a brief excerpt of the content: It isintriguing for itsmathematics including computations beyond thecomprehensionof this reviewer,to his discredit Bycomparison withwhattransportation onthe feasible alternative system would havecost, railroad transportakion saved only about2 per centof Gross National Product in the interstate shipment of four basicfarmproducts and the intrastate shipment of 27 farm commodities.

Cliometrics

Cliodynamicsunlike cliometrics, maintains a close relationship with the natural sciences, often employing dominant methods from the natural sciences such as differential-equation models, power-law relations, and agent-based models.

In the case of iron, railroads, except at the end of the period, accounted for only a minor fraction of the output change overall, including the later period, it was still only 17 percent ; for coal, it was less than 5 percent; for lumber, barely 5 percent; in the case of transport equipment only 25 percent only half of the change accounted for by vehicles drawn by animals ; and for machinery it was less than 1 percent.

Fogel, Railroads and American Economic Growth: Evenassuming thatthedataholdup in myview,a large assumptiontheytakeno account of the qualityof the canals in the sample, formanyactually weregerry-built andcould hardlybe expected to havelasted until He focuses of four commodities wheat, corn, beef, and pork — commodities that together represented 42 percent of agricultural income.

Louisiana State University Press, Controlling for historical economic activity shows these productivity effects have been increasing with time.

Even more than his estimates of interregional social savings, the work in this essay completely changed the way economic historians would do business in the future.Railroads and American Economic Growth: Essays in Econometric History by Professor Robert William Fogel () [Professor Robert William Fogel] on ltgov2018.com *FREE* shipping on qualifying offers.

Will be shipped from US. Used books may not include companion materials, may have some shelf wear, may contain highlighting/notes3/5(1).

Railroads and American economic growth : essays in econometric history

dispensable to American economic growth in the nineteenth century. In addition, his substantive discussion serves as a vehicle for the exposition of certain principles of the "new economic history," a plea for more extensive use of quantitative and theoretical, even. Railroads and American Economic Growth: Essays in Econometric History by Professor Robert William Fogel () [Professor Robert William Fogel] on ltgov2018.com *FREE* shipping on qualifying offers.

Will be shipped from US.

Robert Fogel

Used books may not include companion materials, may have some shelf wear, may contain highlighting/notesReviews: 1. Railroads and American Economic Growth: Essays in Econometric History Robert William Fogel Snippet view - Railroads and American economic growth: essays in econometric history.

– American households devote about 20 % of their expenditures to road transport (Glaeser and Kahn,United States Bureau of Transportation Statistics, ).

• Moreover, claims about the importance of of transportation to growth are common: The development and implementation of transportation infrastructure projects is essential to the well-being of the American people and a strong American.

Railroads and American Economic Growth: Essays in Econometric History. By Robert William Fogel. (Baltimore: Johns Hopkins Press, xv + pp. Tables, charts.

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Railroads and american economic growth essays in econometric history 1964
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