The Industrial Revolution

Gregory Clark

Chapter 05 in Handbook of Economic Growth, 2014, vol. 2, pp 217-262 from Elsevier

Abstract: The Industrial Revolution decisively changed economywide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This paper seeks to set out the empirical parameters of the Industrial Revolution that any economic theory must encompass, and illustrate why this makes explaining the Industrial Revolution so difficult within the context of standard economic models and narratives.

JEL-codes: N13 O33 O43 O47 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:grochp:2-217

DOI: 10.1016/B978-0-444-53538-2.00005-8

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