Economics
The north side of the falls is a millsite. In the 17th century, a blast furnace for smelting iron ore found in the limestone was built. It was in operation until the first half of the 19th century.
In 1887 the ironworks applied for permission to divert between one fifth to one half of the river's flow for electricity generation. The Swiss Alpine Club, the Schweizerische Naturforschende Gesellschaft (a nature group) and several scientific societies opposed the plan.
In 1913 an international competition was held for the best plan for a shipping route between Basel and Lake Constance.
In 1919, a company wanting to build power stations in northern Switzerland were told that any such station at the Rhine Falls "must serve the economic interest of the public".
In 1944, the Swiss Council of States granted permission to build the proposed power station. The permission was to become effective on 1 February 1948, with construction to begin in 1952. But in 1951, the Neuen Helvetischen Gesellschaft (New Swiss Society), under the leadership of Emil Egli, got 150,000 Swiss citizens to sign a petition protesting the project; among the signatories were 49 famous citizens, including Hermann Hesse and Carl Jacob Burckhardt. The petition not only scuttled the power station project, but effectively prevented all future hydropower and navigation engineering projects on the upper Rhine to the present day.
Today, the falls are still under consideration for hydropower projects. If the full water flow were used, the power generated would average approximately 50 MW. The economic value of the falls as a tourist attraction may be greater.
Read more about this topic: Rhine Falls
Famous quotes containing the word economics:
“The animals that depend on instinct have an inherent knowledge of the laws of economics and of how to apply them; Man, with his powers of reason, has reduced economics to the level of a farce which is at once funnier and more tragic than Tobacco Road.”
—James Thurber (1894–1961)
“Religion and art spring from the same root and are close kin. Economics and art are strangers.”
—Willa Cather (1876–1947)
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)