Was 19th century British growth steam-powered?: the climacteric revisited

By

Crafts, Nicholas / Mills Terence C.

"This paper establishes that there are serious problems with the hypothesis that the Victorian climacteric was driven by the decline phase of steam as a General Purpose Technology. This is primarily because steam’s contribution to industrial output and labour productivity growth was stronger after 1870 than before and that the non-steam-intensive sectors exhibited an inverted U-shape in trend output growth through the 19th century, experiencing a marked slowdown between 1830 and the 1870s. Seeking to base an account of 19th century British growth primarily on the implications of steam is thus misconceived."
Language

English

Country

United Kingdom

Editors Information
Published on
28.04.2024
Contributor
Thomas Meyer
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