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Epilogue

In: An Economic History of British Steam Engines, 1774-1870

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  • Haris Kitsikopoulos

    (Unbound Prometheus)

Abstract

Steam engines were the first general-purpose or strategic technology of the modern era. The Epilogue of the book provides a summary of the trajectory of this technology since its initial appearance at the dawn of the seventeenth century as a pumping device to drain mines. Despite the fact it had a dramatic impact in raising coal output, it was not until the 1780s, with the invention of engines working with rotary motion, that it became feasible to revolutionize production across multiple industrial sectors. The ultimate stage in this technological trajectory was reached at the beginning of the nineteenth century with the application of steam power in railways which reduced dramatically the cost of transporting commodities and people across space. The Epilogue enumerates the multiple constraints the diffusion of steam power encountered but it also stresses the remarkable readiness of British people to respond to pecuniary opportunities opened by this technology.

Suggested Citation

  • Haris Kitsikopoulos, 2023. "Epilogue," Contributions to Economics, in: An Economic History of British Steam Engines, 1774-1870, chapter 0, pages 345-351, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-27362-9_10
    DOI: 10.1007/978-3-031-27362-9_10
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