Stage one: the Industrial Revolution in Britain

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Chapter 20 in A History of the Global Economy, 2018, pp 355-374 from Edward Elgar Publishing

Abstract: This chapter resumes the narrative, with the British Industrial Revolution as its main theme. It analyses the timing of the revolution, weighing explanations which emphasise an abrupt change of pace or a more gradual build up. It considers at some length the enabling conditions assisting the transition – increasing security, civility and autonomy. It devotes attention to alternative arguments which seek to explain why Britain was the pioneer: first, an argument based on contingency or chance; and secondly, an argument based on the impact of changes in the price of factors of production on technological choices which resulted in a significant saving of labour by the use of more capital and energy. The chapter analyses the nature of the discontinuity, focusing on the revolutionary change in technologies and organisation, and summarises in turn the reasons why the venue was Eurasia, why Europe and why Britain.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (5)

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