There was a waste of metal in these early rails owing to the excessive thickness of the vertical web, and subsequent improvements have consisted in adjusting the dimensions so as to combine strength with economy of metal, as well as in the substitution of steel for wrought iron (after the introduction of the Bessemer process) and in minute attention to the composition of the steel employed.
The varying load against which a locomotive works, and the fact that a locomotive is non-condensing, are factors which reduce the margin of possible economy within narrow limits.
(2) The second source of economy is to be sought in the reduced cost of actually making the line and cf working it when made.
He studied history and humanities at the university of Moscow, and, after having gone through his military training in a grenadier regiment, left for Germany where he read political economy in Berlin under Prof. Schmoller.
ANTONIO GENOVESI (1712-1769), Italian writer on philosophy and political economy, was born at Castiglione, near Salerno, on the 1st of November 1712.
In the following year he was introduced to political economy and studied Adam Smith and Ricardo with his father.
Sometimes he speaks of political economy as a department "carved out of the general body of the science of society;" whilst on the other hand the title of his systematic work implies a doubt whether political economy is a part of "social philosophy" at all, and not rather a study preparatory and auxiliary to it.
- Works: System of Logic (2 vols., 1843; 9th ed., 1875; "People's" ed., 1884); Essays on some Unsettled Questions of Political Economy (1844, ed.
What then, it may be asked, becomes of the " old Political Economy" ?
As an independent measure of economy, the stipend paid to the titular nawab of Bengal, who was then a minor, was reduced by one-half - to sixteen lakhs a year (say 160,000).
If land forms may be compared to organs, the part they serve in the economy of the earth may, without straining the term, be characterized as functions.
The economy and success of most lines of communication depend on following as far as possible existing natural lines and utilizing existing natural sources of power.'
Their primary object being the development and peopling of the land, they have naturally been made as cheaply as possible; and as in such cases the cost of the land is inconsiderable, economy has been sought by the use of lighter and rougher permanent way, plant, rolling stock, &c. Such railways are not " light " in the technical sense of having been made under enactments intended to secure permanent lowness of cost as compared with standard lines.
He suppressed, however, a number of octrois and minor duties,' and opposed, on grounds of economy, the participation of France in the War of American Independence, though without success.
If, however, cost within reasonable limits is a secondary consideration and the intention is to build a line adapted for express trains and for the carriage of the largest volume of traffic with speed and economy, he will lean towards the second.
The substitution of steel for iron as the material for rails which made possible the axle loads and the speeds of Lto-day, and, by reducing the cost of maintenance, contributed enormously to the economic efficiency of railways, was one of the most important events in the history of railways, and a scarcely less important element of progressive economy has been the continued improvement of the steel rail in stiffness of section and in toughness and hardness of material.
Although bitterly opposed by the partisans of scholastic routine, Genovesi found influential patrons, amongst them Bartolomeo Intieri, a Florentine, who in 1754 founded the first Italian or European chair of political economy (commerce and mechanics), on condition that Genovesi should be the first professor, and that it should never be held by an ecclesiastic. The fruit of Genovesi's professorial labours was the Lezioni di Commercio, the first complete and systematic work in Italian on economics.
Oncken, to take the extreme of condemnation, looks upon him as a bad physiocrat and a confused thinker, while Leon Say considers that he was the founder of modern political economy, and that "though he failed in the 18th century he triumphed in the 1 9th."
Economy in capital outlay and cheapness in construction is indeed the characteristic generally associated with light railways by the public, and implicitly attached to them by parliament in the act of 1896, and any simplifications of the engineering or mechanical features they may exhibit compared with the standard railways of the country are mainly, if not entirely, due to the desire to keep down their expenses.
In the former treatise we have a clear and minute description of the rural practices of that period, and from the latter may be learned a good deal of the economy of the feudal system in its decline.
Cranes driven by shafting, or by mechanical power, have been largely superseded by electric cranes, principally on account of the much greater economy of transmission.