Robert Fogel (1964) demonstrates that (a) the social saving of the ra

Robert Fogel (1964) demonstrates that

(a) the social saving of the railroad was large; much of the country (over 25%) could not have
been settled and cultivated without the railroad.
(b) the canal and river systems of transportation could very nearly have produced the same
results as the railroad in terms of land cultivated.
(c) the railroad was responsible for a great “take-off” in terms of economic growth in the
19th century.
(d) the railroad gave a huge boost to the iron industry because for a time it consumed well
over 50% of all iron produced.

ANSWER

(b)