HIST-1106EL Study Guide - Quiz Guide: Capital Intensity, Comparative Advantage
8 Nov 2020
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Document Summary
Bases of the postwar potential for catch up and convergence: europe and japan"s strong potential for rapid growth was achieved by exploiting. American methods of production and organisation: why europe lacked up until 1970s, difficult lay in the failures of technological congruence and social capability. Technological congruence: primary materials: america had an abundance of cheap supplies of primary materials, productivity was based on minerals, coal for steam power, coal and iron ore for steel, cooper and still other non-ferrous metals. 1: exploitation of the country"s vast mineral deposits, cheap supplies of primary materials underplayed america"s growing comparative advantage as an exporter of natural resource-intensive manufactures during the period. 1880-1929: accompanied by an efficient network of transportation by water and rail, government claimed no ultimate title to the nation"s minerals, america"s manufacturing shifted towards the production of mineral-based capital and consumer goods.
