Paul F. McGouldrick
Published: 1968
Total Pages: 336
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This unique study determines, by means of rigorous quantitative analysis, how cycles in New England cotton textile profits, output, borrowing, and capacity affected investment--and therefore industrial growth--during the nineteenth century. The firms studied were transitional forms between owner-managed companies and the modern corporation. From primary sources, Paul McGouldrick has constructed standardized balance sheets and income statements for each company year by year. A painstaking comparison with a much broader sample of companies shows that trends and cycles in profit rates for companies studied were typical of the industry.
