Railroad Purchasing and the Business Cycle

"Railroad Purchasing and the Business Cycle" is a comprehensive economic analysis of the relationship between the procurement activities of the railroad industry and the broader fluctuations of the American economy. Written by John E. Partington, this study investigates the significant role that railroad expenditures played in the timing and severity of business cycles during the late 19th and early 20th centuries.

As the railroads were historically among the largest consumers of industrial materials-including steel, coal, and lumber-their purchasing patterns had a profound ripple effect across numerous sectors. This work explores whether these massive investments acted as a driver of economic growth or were primarily reactive to existing market conditions. Through detailed statistical examination, Partington evaluates the correlation between orders for equipment, such as locomotives and freight cars, and general indicators of prosperity and depression.

This text remains a valuable resource for students of economic history and transportation studies, providing a rigorous look at the industrial dynamics that shaped the modern economic landscape. It offers unique insights into the logistical and financial decision-making processes of one of the world's most vital infrastructures during a period of intense industrial development.

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