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Comparative Costs and the Diffusion of Steam and Water Power, 1800–1870

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

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  • Haris Kitsikopoulos

    (Unbound Prometheus)

Abstract

Prior to 1800, waterpower remained the power source with the lowest cost. But the technological revolution which started with the introduction of Cornish engines and unfolded with the development of several variants in this category was bound to have major implications regarding their productivity and hence their operating cost. The major factor determining the latter was fuel consumption and hence the fuel rate and price of coal were of paramount importance. The present chapter will attempt to outline developments in this regard and discuss their impact on the diffusion of steam and water both at a sectoral and aggregate level.

Suggested Citation

  • Haris Kitsikopoulos, 2023. "Comparative Costs and the Diffusion of Steam and Water Power, 1800–1870," Contributions to Economics, in: An Economic History of British Steam Engines, 1774-1870, chapter 0, pages 195-248, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-27362-9_7
    DOI: 10.1007/978-3-031-27362-9_7
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