Technology and Society: The Influence of Machines in the United States

By S. Mckee Rosen ; Laura Rosen | Go to book overview

CHAPTER V
CONSTRUCTION

A Vast Industry

Construction occupies a pivotal position among American industries, for of all the so-called heavy industries this one in particular exerts far-reaching effects upon the economy as a whole. Seldom can wide prosperity exist unless a vast amount of building is going on. Conversely, a decline in the index of construction is likely to accompany economic depression.


TABLE 3.—HOUSING, PLANT, AND EQUIPMENT CONSTRUCTION IN
THE UNITED STATES, 1921-1938*
Year Housing Construction
Plant and Equipment

1921

$ 1,997,000,000

$ 5,115,000,000

1922

3,387,000,000

5,690,000,000

1923

4,395,000,000

7,833,000,000

1924

4,772,000,000

7,602,000,000

1925

5,135,000,000

8,117,000,000

1926

4,838,000,000

9,030,000,000

1927

4,645,000,000

8,685,000,000

1928

4,355,000,000

8,747,000,000

1929

3,194,000,000

10,014,000,000

1930

1,824,000,000

8,262,000,000

1931

1,379,000,000

5,090,000,000

1932

515,000,000

2,790,000,000

1933

373,000,000

2,375,000,000

1934

419,000,000

3,395,000,000

1935

813,000,000

4,333,000,000

1936

1,374,000,000

5,922,000,000

1937

1,718,000,000

7,405,000,000

1938

1,594,000,000

5,375,000,000

Total

$46,727,000,000

$115,780,000,000

____________________
*
Estimates by George Terborgh, Federal Reserve Board, quoted in the New York Sun, January 6, 1940.

-94-

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