Mises Daily
Author:
Michele Boldrin
David K. Levine
Online Publish Date:
Over a thirty year period steam engines were modified and improved as crucial innovations such as the steam train, the steamboat and the steam jenny came into wide usage. The key innovation was the high-pressure steam engine — development of which had been blocked at all,Boulton and Watt certainly would have been forced to follow a business policy quite different from that which they actually followed. Most of the firm’s