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The state of Colorado runs an ad in which it shows an obviously scared third grader getting ready to go on stage for his first public stage appearance The Comic Book Film Adaptation: Exploring Modern Hollywood's Leading Genre letbuythem.xyz. A common theme of all these lectures is the increased role of the state in German economic development and industrialization. The Rapid Industrialization of Germany in the 19th and early 20th centuries: 1. An overview of 19th century German industrialization: a) Relatively slow economic growth of the various German states (not yet united) in the 18th and early 19th century: up to about the 1850s: well behind France and the Netherlands, as well as Great Britain. b) The initial �take-off' period, from the 1850s to the 1870s: key features (1) The German Zollverein, of 1834: political forces for market unification. (3) the Prussian Emancipation Law of 1851, and agricultural modernization thereafter; (4) the role of the Investment Banks or Universal Banks. c) From the 1870s to World War I: i) the period of most rapid and complete industrialization was from the 1870s to World War I: in steel, chemicals, and the electrical industries, all 'new' industries from the 1860s. ii) In steel, Germany gained European mastery by the 1890s; iii) and in the other two -- chemicals and the electrical industries -- Germany gained world mastery (i.e., ahead of both Britain and the US) also by the 1890s. iv) Was Germany a victim of the so-called �Great Depression' of 1873-1896, a deflationary era: (1) no evidence of any such depression, though the trade statistics indicate a slower rate of export growth (2) but the evidence also indicates faster growth rates and the final achievements of industrial supremacy in the following inflationary era: 1896 - 1914. i) Contrary to expectations of traditional economic theory, the explanation lies basically in the combination of protective tariffs, industrial cartels, investment banks, and state support for those cartels. ii) Tariffs and cauterization soon led to almost complete vertical and horizontal integrations, with large increases in scale economies, involving extensive mechanization. iii) Vertical integration and extensive mechanization led to significant productivity gains, especially in fuel economies, by producing steel 'in one heat' -- converting pig iron into steel while still semi-molten, by savings on transportation and transaction costs, and by economies of scale. iv) Steel cartels, owning iron and coal mines, and railroads, subsidized inputs, especially coking coal, while charging much prices to those outside the cartel, especially to foreign buyers (chiefly France); and offered discounts to ensure compliance with cartel pricing and market sharing. b) The ongoing debates about supremacy in the post-1870 steel industry: i) David Landes had made many of Webb's points earlier, in 1979, stating that 'The Germans put big and bit together, while the British kept small and small apart.' ii) Those views were challenged by Donald McClosky, whose reply in turn provoked further responses. iii) Thus we discussed the Landes-McCloskey-Allen debates, in which McCloskey (1981) had contended that the British steel industry was at least on a par with the American and German steel industries, if not superior in some aspects. iv) The statistical evidence presented led us (or me) to conclude that the British steel industry, by the 1890s, was inferior in productivity and pricing to both the American and German steel industries. v) Indeed 70% of German rolled steel went to British and Imperial markets. vi) Price evidence shows that while German cartels exported steel at somewhat lower prices than those charge in the domestic markets, nevertheless, German steel export prices were still lower than British domestic prices, for comparable steel products. c) How did the British respond and survive in the international steel markets? i) With Britain's steady resolve to maintain complete free trade and the Gold Standard, how did the British steel industry survive? ii) The answer lies in Comparative Advantage: the Germans had a distinct absolute and comparative advantage in Bessemer steel, while the British conversely had a comparative advantage in Siemens-Martin Open Hearth Production: producing higher cost but far higher quality steel, with smaller scale economies. ii) Both industries in fact shifted over the long run to Siemens-Martin, but the British maintained a lead until World War II. 3 online.

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