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American Railroads and the Transformation Of The Ante Bellum Economy by Fishlow
American Railroads and the Transformation of the Ante-Bellum by Albert Fishlow
American Railroads and the Transformation of the Ante-Bellum
Albert Fishlow
Harvard Economic Studies Volume CXXVII
Hard cover
452 pages
Copyright 1965
Contents
PART I. INTRODUCTION
I. THE PROBLEM TO BE STUDIED3
Background
The Contours of the Study
II. DIRECT BENEFITS: THEORY, MEASUREMENT,
AND INTERPRETATION18
Introduction
The Concept of Social Saving
Some Historical Application
The Importance of Social Saving
Appendix: Calculation of Direct Benefits
PART II. THE STRENGTH OF DERIVED DEMANDS
III. THE MAGNITUDE OF THE BACKWARD
LINKAGES99
Introduction
The Importance of Railroad Expenditure
Specific Demands
Railroad Requirements and American Industrialization:
Iron
Railroad Requirements and American Industrialization:
Machinery
Railroad Requirements and American Industrialization:
Coal
Railroad Expenditures and Pre-Civil War Development:
A Final Comment
PART III. THE NATURE OF THE FORWARD LINKAGES
IV. THE DYNAMICS OF RAILROAD EXTENSION
INTO THE WEST163
Introduction
Construction Ahead of Demand
XiiCONTENTS
The Pattern of Sequential Construction
The Profit Experience
The Pattern of Governmental Assistance
The Process of Anticipatory Settlement
Conclusion
V. THE IMPACT ON WESTERN AGRICULTURE205
Introduction
The Extent and Importance of Interior Development
Railroad Services and Agricultural Incomes
Some Dynamic Sequences
Summary
VI. RAILROADS AND EASTERN INDUSTRIALIZA-
TION IN THE 1840's237
Introduction
The Strength of Industrial Motivation
The Magnitude of the Forward Linkages
The Textile Industries and Railroad Innovation
Railroad Forward Linkages and the Boot and Shoe Industry
Some Final Comments
VII. THE INFLUENCE OF PRE-CIVIL WAR RAILROADS ON THE PATTERNS OF DOMESTIC
COMMERCE262
Railroads and the Trade Between East and West
The Trade Between North and South
The Trade Between West and South
Railroad Expansion, Trade Diversion, and Its Consequences
Final Comments
PART IV. CONCLUDING OBSERVATIONS
VIII. SOME IMPLICATIONS FOR THE THEORY OF
SOCIAL OVERHEAD CAPITAL301
Recapitulation
Implications
APPENDIXES
A. THE DERIVATION OF OUTPUT ESTIMATES315
B. THE DERIVATION OF CAPITAL FORMATION
ESTIMATES341
C. THE DERIVATION OF EMPLOYMENT
ESTIMATES402
D. THE DERIVATION OF EQUIPMENT
ESTIMATES413
SELECTED BIBLIOGRAPHY425
INDEX 443
This book began as a Ph.D. dissertation in the Economic History Workshop at Harvard University. The Workshop, affiliated with the Department of Economics, was established in 1959 under a grant from the Ford Foundation, and Albert Fishlow was its first member. The purpose of the Workshop has been to attract able graduate students to the study of economic history and thereby inject into the discipline a number of well-trained economists, willing to apply the tools of economic and quantitative analysis to the exploration of past economic sequences. Had the phrase not become somewhat vague and controversial, one might say that the Workshop has been dedicated to "New Economic History."
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