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Article

Daniel Pope

Nuclear power in the United States has had an uneven history and faces an uncertain future. Promising in the 1950s electricity “too cheap to meter,” nuclear power has failed to come close to that goal, although it has carved out approximately a 20 percent share of American electrical output. Two decades after World War II, General Electric and Westinghouse offered electric utilities completed “turnkey” plants at a fixed cost, hoping these “loss leaders” would create a demand for further projects. During the 1970s the industry boomed, but it also brought forth a large-scale protest movement. Since then, partly because of that movement and because of the drama of the 1979 Three Mile Island accident, nuclear power has plateaued, with only one reactor completed since 1995. Several factors account for the failed promise of nuclear energy. Civilian power has never fully shaken its military ancestry or its connotations of weaponry and warfare. American reactor designs borrowed from nuclear submarines. Concerns about weapons proliferation stymied industry hopes for breeder reactors that would produce plutonium as a byproduct. Federal regulatory agencies dealing with civilian nuclear energy also have military roles. Those connections have provided some advantages to the industry, but they have also generated fears. Not surprisingly, the “anti-nukes” movement of the 1970s and 1980s was closely bound to movements for peace and disarmament. The industry’s disappointments must also be understood in a wider energy context. Nuclear grew rapidly in the late 1960s and 1970s as domestic petroleum output shrank and environmental objections to coal came to the fore. At the same time, however, slowing economic growth and an emphasis on energy efficiency reduced demand for new power output. In the 21st century, new reactor designs and the perils of fossil-fuel-caused global warming have once again raised hopes for nuclear, but natural gas and renewables now compete favorably against new nuclear projects. Economic factors have been the main reason that nuclear has stalled in the last forty years. Highly capital intensive, nuclear projects have all too often taken too long to build and cost far more than initially forecast. The lack of standard plant designs, the need for expensive safety and security measures, and the inherent complexity of nuclear technology have all contributed to nuclear power’s inability to make its case on cost persuasively. Nevertheless, nuclear power may survive and even thrive if the nation commits to curtailing fossil fuel use or if, as the Trump administration proposes, it opts for subsidies to keep reactors operating.

Article

The eighty years from 1790 to 1870 were marked by dramatic economic and demographic changes in the United States. Cities in this period grew faster than the country as a whole, drawing migrants from the countryside and immigrants from overseas. This dynamism stemmed from cities’ roles as spearheads of commercial change and sites of new forms of production. Internal improvements such as canals and railroads expanded urban hinterlands in the early republic, while urban institutions such as banks facilitated market exchange. Both of these worked to the advantage of urban manufacturers. By paying low wages to workers performing repetitive tasks, manufacturers enlarged the market for their products but also engendered opposition from a workforce internally divided along lines of sex and race, and at times slavery and freedom. The Civil War affirmed the legitimacy of wage labor and enhanced the power of corporations, setting the stage for the postwar growth of large-scale, mechanized industry.

Article

Jamie L. Pietruska

The term “information economy” first came into widespread usage during the 1960s and 1970s to identify a major transformation in the postwar American economy in which manufacturing had been eclipsed by the production and management of information. However, the information economy first identified in the mid-20th century was one of many information economies that have been central to American industrialization, business, and capitalism for over two centuries. The emergence of information economies can be understood in two ways: as a continuous process in which information itself became a commodity, as well as an uneven and contested—not inevitable—process in which economic life became dependent on various forms of information. The production, circulation, and commodification of information has historically been essential to the growth of American capitalism and to creating and perpetuating—and at times resisting—structural racial, gender, and class inequities in American economy and society. Yet information economies, while uneven and contested, also became more bureaucratized, quantified, and commodified from the 18th century to the 21st century. The history of information economies in the United States is also characterized by the importance of systems, networks, and infrastructures that link people, information, capital, commodities, markets, bureaucracies, technologies, ideas, expertise, laws, and ideologies. The materiality of information economies is historically inextricable from production of knowledge about the economy, and the concepts of “information” and “economy” are themselves historical constructs that change over time. The history of information economies is not a teleological story of progress in which increasing bureaucratic rationality, efficiency, predictability, and profit inevitably led to the 21st-century age of Big Data. Nor is it a singular story of a single, coherent, uniform information economy. The creation of multiple information economies—at different scales in different regions—was a contingent, contested, often inequitable process that did not automatically democratize access to objective information.

Article

Albert Churella

Since the early 1800s railroads have served as a critical element of the transportation infrastructure in the United States and have generated profound changes in technology, finance, business-government relations, and labor policy. By the 1850s railroads, at least in the northern states, had evolved into the nation’s first big businesses, replete with managerial hierarchies that in many respects resembled the structure of the US Army. After the Civil War ended, the railroad network grew rapidly, with lines extending into the Midwest and ultimately, with the completion of the first transcontinental railroad in 1869, to the Pacific Coast. The last third of the 19th century was characterized by increased militancy among railroad workers, as well as by the growing danger that railroading posed to employees and passengers. Intense competition among railroad companies led to rate wars and discriminatory pricing. The presence of rebates and long-haul/short-haul price differentials led to the federal regulation of the railroads in 1887. The Progressive Era generated additional regulation that reduced profitability and discouraged additional investment in the railroads. As a result, the carriers were often unprepared for the traffic demands associated with World War I, leading to government operation of the railroads between 1917 and 1920. Highway competition during the 1920s and the economic crises of the 1930s provided further challenges for the railroads. The nation’s railroads performed well during World War II but declined steadily in the years that followed. High labor costs, excessive regulatory oversight, and the loss of freight and passenger traffic to cars, trucks, and airplanes ensured that by the 1960s many once-profitable companies were on the verge of bankruptcy. A wave of mergers failed to halt the downward slide. The bankruptcy of Penn Central in 1970 increased public awareness of the dire circumstances and led to calls for regulatory reform. The 1980 Staggers Act abolished most of the restrictions on operations and pricing, thus revitalizing the railroads.

Article

The tall building—the most popular and conspicuous emblem of the modern American city—stands as an index of economic activity, civic aspirations, and urban development. Enmeshed in the history of American business practices and the maturation of corporate capitalism, the skyscraper is also a cultural icon that performs genuine symbolic functions. Viewed individually or arrayed in a “skyline,” there may be a tendency to focus on the tall building’s spectacular or superlative aspects. Their patrons have searched for the architectural symbols that would project a positive public image, yet the height and massing of skyscrapers were determined as much by prosaic financial calculations as by symbolic pretense. Historically, the production of tall buildings was linked to the broader flux of economic cycles, access to capital, land values, and regulatory frameworks that curbed the self-interests of individual builders in favor of public goods such as light and air. The tall building looms large for urban geographers seeking to chart the shifting terrain of the business district and for social historians of the city who examine the skyscraper’s gendered spaces and labor relations. If tall buildings provide one index of the urban and regional economy, they are also economic activities in and of themselves and thus linked to the growth of professions required to plan, finance, design, construct, market, and manage these mammoth collective objects—and all have vied for control over the ultimate result. Practitioners have debated the tall building’s external expression as the design challenge of the façade became more acute with the advent of the curtain wall attached to a steel frame, eventually dematerializing entirely into sheets of reflective glass. The tall building also reflects prevailing paradigms in urban design, from the retail arcades of 19th-century skyscrapers to the blank plazas of postwar corporate modernism.