ECON 2200 Lecture Notes - Lecture 28: Morrill Land-Grant Acts
14 May 2018
School
Department
Course
Professor
ECON 2200
Lecture 28
• Morrill Act (1862)
o Gave impetus to agricultural training at the university level.
Established “land-grant” colleges that gradually assumed
statewide leadership in agricultural research.
• Hatch Act (1887)
o Provided federal assistance to state agricultural experiment
stations, many of which had already been established with state
funds.
• VA (value added) per worker rising (Table 17.5)
o VA = Total value of output – material costs
o VA per worker = VA/# of employees
1. Value added per worker reflects both labor and capital
productivity
2. Greatest percent change:
Men’s clothing – 269%
Boots & Shoes – 128%
3. Greatest increase in men’s clothing & boots and shoes
because of the increased productivity in these sectors.
There was also a lot of demand for boots and men’s
uniforms because of the war. But it was the standardized
sizing that made it possible to increase productivity so
much. Before standardized sizing, each boots/clothing
had to be tailored for the person; however, afterwards,
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Lecture 28: morrill act (1862, gave impetus to agricultural training at the university level. Standardized sizing mass production: note magnitude of va by manufacturing, figures in 17. 3 are in millions of nominal dollars meaning they are not adjusted for inflation/deflation. It is an emerging industry for developing countries: entry of tobacco and malt liquors in 1910. They are income elastic goods: entry of printing and publishing in 1910. Boots & shoes 128: greatest increase in men"s clothing & boots and shoes because of the increased productivity in these sectors. There was also a lot of demand for boots and men"s uniforms because of the war. But it was the standardized sizing that made it possible to increase productivity so much. Before standardized sizing, each boots/clothing had to be tailored for the person; however, afterwards, they could mass produce boots/clothing to each size and fit everyone.
