Why Was British Growth So Slow During the Industrial Revolution?
Jeffrey G. Williamson
The Journal of Economic History, 1984, vol. 44, issue 3, 687-712
Although it has been labeled the â€œFirst Industrial Revolution,â€ British growth and industrialization was slow between the 1760s and the 1820s. The explanation seems to lie with low capital formation shares in national income, low rates of accumulation, and thus little change in the capital-labor ratio. What accounts for the modest investment rates? Lack of thrift? Weak investment demand? This paper argues that the answer is to be found in the enormous debt issues used, to finance the French Wars.
References: Add references at CitEc
Citations: View citations in EconPapers (60) Track citations by RSS feed
Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:cup:jechis:v:44:y:1984:i:03:p:687-712_03
Access Statistics for this article
More articles in The Journal of Economic History from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().