Technological Change in American Manufacturing During the 1920's

John H. Lorant

The Journal of Economic History, 1967, vol. 27, issue 2, 243-246

Abstract: It is well known that the average productivity of capital in American manufacturing increased at a comparatively high rate during the 1919–1929 decade. During the same period the accelerated application of scientific information stimulated important changes in manufacturing plant and equipment. This Note investigates the relationship between these two processes. The inquiry is of historical interest for two reasons: First, the study should help to support statistical observations of the increased efficiency of production facilities during the 1920's, thereby connecting observed productivity change as measured by economists with substantive technological improvements as described by economic historians. And second, it may be possible to characterize the 1920's as a period of unique technological growth in the history of American manufacturing.

Date: 1967
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