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Technical Progress and the Great Depression: Literature Review

In: Energy, Einstein, and the Great Depression

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  • Bernard C. Beaudreau

Abstract

This chapter examines technical progress in the United States in the pre-Great Depression era. It is argued that because of the underdeveloped nature of production theory at the time, many of the key developments were either overlooked or misunderstood by period writers. It is shown that foremost among these developments was the introduction of a new power drive technology known as electric unit drive that resulted in greater operating speeds and greater productivity throughout the economy.

Suggested Citation

  • Bernard C. Beaudreau, 2026. "Technical Progress and the Great Depression: Literature Review," Springer Books, in: Energy, Einstein, and the Great Depression, chapter 0, pages 13-28, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-26664-4_2
    DOI: 10.1007/978-3-032-26664-4_2
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