©Deirdre Nansen McCloskey | COPYRIGHTED MATERIAL

McCloskey's Economic Maturity and Entrepreneurial Decline British Iron and Steel, 1870-1913

Table of Contents

  1. The Iron and Steel Industry and the Hypothesis of Entrepreneurial Failure
    • The Historiographic Career of the Hypothesis of Failure
    • The Quantitative Evidence for Britain as a Whole
    • The Relevance of the Experience in Iron and Steel
    • Assessing Entrepreneurial Performance in Iron and Steel
  2. The Market Structure of the Industry
    • Cycles in Monopoly Power from 1870 to 1913
    • Monopoly Power among Regions of the Country
    • Competition and the Hypothesis of Failure
  3. The Industry's Consumers and the Industry's Growth
    • The Slow Growth of Demand
    • The Substitution of Steel for Iron
  4. The "Most Notable Single Instance" of Entrepreneurial Failure: The Neglect of the Basic Process
    • Was the Neglect of Basic Ores Irrational?
    • The Shift to Basic Steel
  5. Productivity Change, 1870-1913
    • The Material-Intensity and Capital-Lightness of the Industry
    • Pig Iron
    • Bessemer Steel Rails
    • Open Hearth Steel Ship Plates
  6. Was Productivity Change More Rapid in the American Industry?
    • AProductivity Change in American Iron and Steel
    • Slow Growth and Antique Technology in Steel
  7. American and British Productivity before 1913
    • Levels of Productivity
    • How Well British Entrepreneurs Performed Appendices
    • Sources for Estimating U.K. Gross National Product and Inputs of Capital and Labor
    • The Prices of British Iron and Steel
    • The Input and Output Structure of the British Iron and Steel Industry in 1907
    • Sources and Methods for Productivity Measurement in Pig Iron
  9. Index