Useful historical comparison for long production lead times and forecasting uncertainty; not proof of a fixed cycle or prediction of the present American market.
Historical Overview, PDF screen 16 of the supplied revised 2016 copy. Present-tense forecasts and statistics belong to the source period.
MacLean opens with edition-period expansion, export growth and capacity investment, then recalls downturns after the 1780s, the post-1823 expansion and the 1890s boom. He questions whether current demand forecasts will justify expansion.
16
16
Historical Overview
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