How wrong you are! In fact magnetic amplifiers might make a comeback and magnetism itself is far from being fully understood.
"The magnetic amplifier is important to many phases of naval engineering because it provides a rugged, trouble-free device that has many applications aboard ship and in aircraft. These applications include throttle controls on the main engines of ships; speed, frequency, voltage, current, and temperature controls on auxiliary equipment; and fire control, servomechanisms, and stabilizers for guns, radar, and sonar equipment."
**broken link removed**