11 - LPK Holt HIUS 309 March 11, 2008 Economic Impact of...

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LPK Holt HIUS 309 March 11, 2008  Economic Impact of the Civil War: I. Northern Industrial Growth  The Quantitative Dimension – the war caused a tremendous jump in  the growth of the economy  o The Cochran Thesis and its Critics – did the war retard the  economy or improve it? Iron and coal are the basis for an  industrial economy  Pig Iron Output Increase 1850.55 24% 1855.60 17% 1860.65 1% 1865.70 100% The war disrupted railroad building; production in cotton mills was  down 30% (while the wool industry boomed)  Capital Investment and Manufacturing Plants    investment in bonds not in  factories  1850-1860 19.4% 1860-65 -15.5% 1869-1878 27.4% The Qualitative Dimension – shift away from small, family-owned  businesses to large-scale operations using mechanized production –  separate between owners, managers, and stockholders – shift from  generalist to specialist  o
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This note was uploaded on 04/07/2008 for the course HIUS 309 taught by Professor Holt during the Spring '08 term at UVA.

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11 - LPK Holt HIUS 309 March 11, 2008 Economic Impact of...

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