The geography of industrial decline : the Black Country iron and steel industry, 1850-1900
This thesis considers the role of the entrepreneur in the decline of the Black Country iron industry from 1850 - 1900. The initial chapters consider the changing fortunes of the industry from 1850 onwards. The period 1850 - 1870 was one of piecemeal growth and prosperity. New heights were reached in production totals and prices in pig and wrought iron and rolled products. From 1870 onwards, decline became a characteristic feature, reflected in increasing problems of raw material supply, cash flow and mounting liabilities. Various firms and sectors reacted to these changes in different ways. Some diversified production or re-structured companies; others went bankrupt and left the industry. To explain this decline, some observers have given prominence to the diminishing resource base, the emergence of new competitive products, poor technological progress and the discriminatory nature of freight rates. Others saw changes in the general economic climate coupled with increasing competition from abroad as the prime cause. It was shown that all of these variables added to the pressures and anxieties experienced by the regional entrepreneurs. It was not until the mid 1870s that the underlying difficulties in the iron
Medley, Gordon Roy William
History
The geography of industrial decline : the Black Country iron and steel industry, 1850-1900. This thesis considers the role of the entrepreneur in the decline of the Black Country iron industry from 1850 - 1900. The initial chapters consider the changing fortunes of the industry from 1850 onwards. The period 1850 - 1870 was one of piecemeal growth and prosperity. New heights were reached in production totals and prices in pig and wrought iron and rolled products. From 1870 onwards, decline became a characteristic feature, reflected in increasing problems of raw material supply, cash flow and mounting liabilities. Various firms and sectors reacted to these changes in different ways. Some diversified production or re-structured companies; others went bankrupt and left the industry. To explain this decline, some observers have given prominence to the diminishing resource base, the emergence of new competitive products, poor technological progress and the discriminatory nature of freight rates. Others saw changes in the general economic climate coupled with increasing competition from abroad as the prime cause. It was shown that all of these variables added to the pressures and anxieties experienced by the regional entrepreneurs. It was not until the mid 1870s that the underlying difficulties in the iron
geography industrial decline black country iron_steel industry considers_role entrepreneur decline black country iron_industry initial consider change_fortune industry onwards period piecemeal growth prosperity new height reach production total price pig work iron roll product onwards decline become characteristic_feature reflect increase problem raw_material supply cash flow mount liability various firm sector react change different_way diversified production structured company others leave industry explain decline observer give prominence diminish resource base emergence_new competitive product poor technological_progress nature rate others saw change general economic_climate couple increase competition abroad prime cause show variable add pressure anxiety experience regional entrepreneur underlie difficulty iron