The British Industrial Revolution in Global Perspective: How Commerce Created The Industrial Revolution and Modern Economic Growth (original) (raw)
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Mid-Victorian Britain was a wonder: the workshop of the world, the hegemon behind the Pax Britannica, the manager of the international monetary system. The average Briton lived in a city, earned a living as an industrial or service sector employee, and would see her children enjoy living standards that marked a decisive break with the past in terms of health, education, consumption and leisure. Britain had come a long way from its early modern position as a peripheral, backward country. This chapter explores the evolution of the economy from 1700 to 1870, during which it passed through the decisive phase of the industrial revolution. The first section sketches a macroeconomic outline of developments in the period. This is followed by an effort to set these achievements in a comparative perspective, emphasising what was distinctive about Britain's experience. A third section further exploits international data to evaluate several hypotheses about the causes of the industrial revolution that have featured in recent debates. The final section offers a summary and conclusions. CONTENTS What caused the industrial revolution? 20 Conclusion 45 References 49
The British Industrial Revolution in Global Perspective
During the past two decades, Robert Allen's researches into English agriculture have fundamentally reshaped our understanding of the nature and pace of rising agricultural productivity between the late middle ages and the 19th century. More recently, Allen has turned his attention to the study of real wages as a measure of economic development and begun investigating the progress of wages in other parts of the globe. These different strands have come together in this book, the British Industrial Revolution in Global Perspective. The book is neatly divided into two parts, the first looking at the British economy prior to industrialisation, and the second looking at the industrial revolution itself. Whilst parts of the book recapitulate research previously published, there is much that is new and Allen presents us with a clear yet many-layered argument about the nature and causes of the industrial revolution, and about why it occurred in Britain, as opposed to anywhere else, when it did. These of course are questions that have already received substantial attention, yet there can be no doubting that this book makes an important contribution to the existing literature. Though by training an economic historian, Allen manages to present complex economic analysis in a clear and intelligible style, and the book largely succeeds in the series' remit of writing guides accessible to undergraduates. This is more than a student textbook, however. The British Industrial Revolution in Global Perspective provides a novel interpretation of the industrial revolution that will be important to experts in the field. So without further hesitation let us start to unpack Allen's account of the world's first industrial revolution.
Why did the Industrial Revolution begin in England and what factors led to the “Great Divergence?
In a little over a century from around 1750 to 1850 Britain went from being a largely pastoral, farming population to a country of industrialized cities and factories. This tremendous transition, usually referred to as the Industrial Revolution, marked a big turning point in history as it was the first time a country was able to escape from the Malthusian constraints and experience large continuous economic growth and massively increase productivity. However, while there is great consensus for when the Industrial Revolution took place and that it first occurred in Britain, there is heavy debate over its origins and why Britain was first. Although, this essay will acknowledge the wide and complex variety of possible explanations, it will focus on institutions as they have played a crucial role as a foundation for the Industrial Revolution to take place in Britain. The British institutions were important in creating a more egalitarian society, supporting economic growth and encouraging technological innovation and the industrialization that eventually occurred around the world significantly explains the great inequality among nations today. This essay will refer to institutions as sets of informal and formal rules and organizations that impact the distribution of power, and by aggregations of ethics, morals, procedures and guidelines stabilize interaction (Hall, 1986, North, 1990; Peters & Pierre, 1998; Wiens, 2012). Firstly, this essay will argue that British institutions played an extensive part in decreasing the powers of the executives as education increased and a growing middle class emerged which resulted in a relatively freer and more equal society than elsewhere in the world. Secondly, institutions were imperative for Britain’s economic growth and for the maintenance of comparatively high wages at the time. Thirdly, high wages, as well as institutions such as the patent system, guilds and commons motivated industries and individuals to innovate. Lastly, the great inequality among nations in the world today can be highly explained by the onset of industrialization around the world. COURSE: 1003GIR Globalization the Asia-Pacific & Australia. 10.09.12
During the Industrial Revolution, Britain experienced significant technological change in a shift towards modern economic growth. The institutional environment created by the Enlightenment is often seen as a source of this change with reduced rent-seeking, shifting scientific attitudes and legislative changes. This essay analyses the necessary conditions for technological change, the areas where it was focused and considers international comparisons to illustrate that Britain's unique factor prices were instead the dominant determinant of the technological change, which was complemented by its institutions. Britain's unique combination of factor prices created strong economic incentives to drive technological growth. Britain had significantly high silver wages relative to other