ECON 2200 Lecture Notes - Lecture 10: Interchangeable Parts, Scientific Management, Mass Production
16 Dec 2016
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Document Summary
Reunification era: the rise of big business (chap 17 + carnegie article: a period of rapid & significant industrial growth. Combining the data in 17. 1 and 17. 2, we observe productivity growth in (almost) all categories. Productivity growth is particularly strong in total manufacturing, Value added (va) per worker rising (table 17. 5, including footnote: note particularly the productivity growth in men"s clothing, boots/shoes, and iron/steel. By 1900, us was world leader in output of manufactured goods. By 1915: us was producing 1/3 of world"s manufacturing output, manufacturing was the primary source of income in us, note the transformation of the us from an agriculturally-dominated economy to a manufacturing-dominated economy. Increased demand (both domestic & international) fueled manufacturing growth. By 20th century, us was also a major exporter of capital & technology. Compare all manufacturing figures for 1860 and 1910; note magnitude of va by manufacturing.
