After computing the social savings from the railroads, Fogel concluded that ______.
A) the railroads were indispensable to the economic development of the United States.
B) the railroads were not indispensable in 1850 but by 1890 were dispensable.
C) the railroads could explain only a small fraction of the growth in real income in the United States.
D) economics is not sufficiently scientific to make a meaningful calculation of the social savings.

Question

Quizplus · Accepted Answer

Fogel's research concluded that railroads, while important, could only explain a small fraction of the growth in real income in the United States, challenging the previously held view that railroads were indispensable to the country's economic development.

After Computing the Social Savings from the Railroads, Fogel Concluded