The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. Scientific Research and Invention

Collection:: Economics Books

Scientific Research and Invention 121 that “acceleration rather than structural change is the key to an understanding of our recent economic developments.” The committee added: “But the breadth and scale and ‘tempo’ of recent develop- ments gives them new importance.” What has happened is indicated by the fact that in the United States, eight million three hundred thousand workers produced in 1925 one-quarter more than nine million wage workers turned out during 1919. The new indexes of the Federal Reserve Board measuring industrial production record this gratify- ing advance which reflects an increase in the Ameri- can standard of living. The indexes cover, directly and indirectly, four-fifths of the industrial produc- tion of the nation—directly in about thirty-five indus- tries, and collaterally in many more. They were occasioned by the striking increase in recent years of the output of many industries. Thus the quantity of automobiles increased by 204 per cent between 1919 and 1925; the output of petroleum refining advanced by 108 per cent; rubber goods by 59 per cent; glass by 78 per cent; cement by 101 per cent; brick, pottery and other clay products by 68 per cent; chemicals and acids by 36 per cent; paints and varnishes by 40 per cent; carpets and rugs by 38 per cent; silk goods by 37 per cent; iron, steel and non-ferrous metals by 32 per cent; and various items of food, drink, and tobacco by from 6 to 51 per cent. The general volume of production had increased between 1919 and 1927, inclusive, by 46.5 per cent;

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