Great Britain is currently one of the main economic potencies in the world and this is also due to the fact that they were one of the first countries in the world to take advantage of a modern economic growth method, which led to them having a competitive advantage in comparison to the other countries. Approximately 200 years ago countries were facing a state of economic stagnation denominated of Malthusian Trap, which basically meant that as the country increased the output it would also increase the population thus maintaining the product per capita. We chose to do this essay on Great Britain, as it is one of the best and most documented examples on a country, which was able to resourcefully get out of this trap and thrive by guiding its …show more content…
The Malthusian Trap happens because the Population Growth rate is higher than the Technology one, so it was necessary to have a “huge boost” in technology for the country to get out of the trap, and this “huge boost” was the Industrial Revolution. There are many explanations for this burst in efficiency, some economic and some political, but none is fully satisfactory. Also, some other occurrences besides the industrial and agricultural revolutions led to the escape from this trap, such as the emigration to the Western Hemisphere, a big flow of cheap food from America, major advances in public health and a decrease in fertility rates, which led to a higher investment in education. Some historians even considered the thesis that stated that the population might have evolved greater resistance to …show more content…
Their workforces and population easily absorbed the impact of the new technologies that showed up in England.
What made England different than the other countries?
Around 1800, some parts of Europe were able to get into a process of continuous growth and break the inevitable connection between population growth and the income of that same population. Great Britain was no exception and between 1770 and 1860 British population trebled but the productivity of British agriculture and industry increased at a significantly higher rate due to the industrial revolution. That made Great Britain special, because the growth didn't generate a decline in income, which happened to most of the countries. Britain was the first country where this dissociation was first verified.
It's hard to explain this economic growth and there is no universally accepted theory, and some explanations are controversial. Yet, there are some experts that have some explanations for what happened and why Great Britain was the location for this to occur. According to Gregory Clark, modern economic growth is explained by the institutions and social habits developed during the period of the Malthusian
Britain enjoyed the significant economic advantages during the early years of the Industrial Revolution for many reasons. The Industrial Revolution built on earlier developments, but took time to progress. It eventually began to help ordinary people in the West to gain a higher standard life of living. Great Britain had more advantages such as natural resources, political stability and favorable geography. According to the textbook, A History of Western Society, “Britain possessed a unique set of possibilities and constraints, such as abundant coal, high wages, a relatively peaceful and centralized government and well developed financial systems…” (622) and the list goes on. Furthermore, agriculture played an important role in the Industrial Revolution in Britain. “English farmers were second only to the Dutch in
The Industrial Revolution first took hold in England for several important reasons. First, the merchant class of England was extremely effective in developing commerce. This trade increase raised the demand for goods in the area that helped spur the advent of many new ways to produce the needed goods. Additionally, England homed many individuals that pushed for scientific progress in the industrial sector to help aid the progression of business. These individuals were part of an increasing interest in both scientific investigation and invention. By pursuing their ideas, these scientists and inventors were able to lay the foundation and create machines that eased the use of business. Finally, England followed the idea of the laissez-faire doctrine, which allowed the business world to grow freely and uninterrupted by the government for the most part. These factors all set the early stages for the Industrial Revolution to take place and gain momentum in England first (Hackett).
The introduction of many new crops like corn, tomatoes and potatoes to Europe from the Americas previously had all but eliminated wide-spread famine in the region. These new food sources had also made Europeans healthier resulting in generally increased lifespans and more offspring generating a significant population increase in the region, thus creating more demand for the products and goods consumed by every growing society. The increased population also provided for an abundant labor pool of workers to man the factories which were to become the engines of the emerging industrial society of the west. Favorable environmental factors were important too. The availability of an abundance of ports and waterways and large coal and iron deposits fueled the early surge of the industrial revolution in the west.
With all this agricultural expansion of the time population in England start expanding drastically as well. Thanks to population growth people started to worry more about new inventions and producing stuff for people to make our day to day lives easier than they could have ever before. With all the technological advancements leading up to Americas expansion and growth as a powerhouse among the larger nations it’s hard not to label this as one of the most marvelous eras in American history. Honestly, if it wasn’t for the Industrial Revolution this nation wouldn’t be near as large and advanced as it is. It’d still be in a process of development and still be advancing in technology and production but at a slower rate than what it did when this nation was hit by the effects of the Industrial Revolution.
By the 1800’s, England tapped into its natural resources, which allowed for an immense source of fuel. England’s government also supported innovation and scientific thinkers, two groups who lead the Industrial Revolution. Therefore, it can be concluded that the reasons for England being
During the Industrial Revolution, Great Britain also managed to undergo developments of iron ore and coal power, the latter of which was used to aid railway growth in the country. Railway growth, in turn, gave way to the growth of corporations. (Global Political Economy, 70). The era of industrialization in Great Britain introduced the heyday of the Gold Standard, which helped with the exchange of currency, and more notably renewed imperialism, which took place throughout the world and involved Britain along with many other European superpowers such as Germany and Italy. This expansion of Western powers brought about things such as enlarged empires, new colonies that were used and exploited for economic gain, and, most notably, the scramble for Africa: a race among the European nations to divide and conquer the continent of Africa for reasons such as slave labor, trade, and continuation of
In contrast to Russia and Japan, Great Britain’s industrialization occurred differently. England was actually the first to industrialize and industrial Great Britain served as a model for Japan’s and Russia’s later on. Industrialization was a slow, organic process in England started after feudalism but did cause much of the populace to leave their farms and migrate to urban centers, causing the creation of tenements. However, England’s industrialization was privately incentivized. Rather than the government creating economic incentives to modernize, England’s few natural resources and therefore ambition to take the resources of others caused private capitalists to invest money into building factories and growing industries. And like Japan, England’s industrialization was very successful, as the technological advancements and new innovation allowed their superior military to overcome other countries and imperialize, take over new regions. Thus, even though industrialization in different countries around the world did have differences, industrialization as a process that countries go through have similar characteristics. It causes massive social changes and the growth of urban centers, development and innovations in not just the military but also
The only way that England would be possible for any of the new inventions and prosperity was through the Agricultural Revolution. The Agricultural Revolution created a surplus of food. With this surplus of food there was a population
Britain adapted to a lot of changes during this shift from agricultural life to industrial life, where machinery was dominant over human labour. The industrial revolution was a time of great opportunity. Potter (1987: 230-231)
13. Discuss how Great Britain's macroeconomic growth lagged that of other countries since the 2nd Industrial Revolution. Which countries had higher growth rates and due to innovations in which industries? Compare the growth of British per capita income to that of other nations.
During the 18 century, in Britain occurred the most important phenomenon that changed the history, Industrial Revolution. It was a major turning point in their history but in the world’s history as well because the impact of the inventions changed the economical, social and political field forever. The standard of living increased therefore the population had increased.
While popular belief is that the British Industrial Revolution laid the foundation for the modern economy and was perhaps the most prosperous time in history, an analysis and further combination of data on human heights, urban populations, morality rates and disease popularity during that time provide a different picture that supports a more pessimistic view of the Industrial Revolution. When attempting to understand the forces of change operating in an economy, it is important to looks at the four metrics mentioned above (height, crowding, morality and disease) because they are all crucial functions of the real standard of living equation.
England began to establish a new form of industrial technology which worked simultaneously with industrial growth. Previous to the Industrial Revolution, from 1700 to 1760, industry grew only 0.7 percent. Later when the Revolution was at its height, between 1801 and 1831 industry grew 3 percent (McKay 729).
England became the most developed capitalist country in the end of the XVIII century. Cotton, machinery and iron industries made England the leader of the world. Development of the slave trade, the exploitation of natural resources of the colonies and the accumulation of monetary wealth brings tremendous benefits to the bourgeoisie.
The English "consumed far greater amounts of meat than their French counterparts" (Evans, 6) and what is even more surprising is that this prosperity was also enjoyed by populations living well outside urban settlements. Stratification in British society was more than evident in this period and this is evident by unequal access to wealth, status, and power. Aristocracy was an integral part of the society and divine rule was still a universal belief held by most subjects of the British society. Bureaucracy, at the time, was a well established institution which seemed to grow with the growth of the economy subsequent to the Industrial Revolution. The Industrial Revolution was the result of several factors that Britain had supremacy over. The British colonies were at its highest productivity and all the exports were shipped to England where they were sold or used as raw materials for production. It is argued that the cotton industry was the largest contributor to the technological advances of the period, more specifically, advances in weaving techniques. Factories grew in urban areas of England, where labor was plentiful, and it was not long before even the cities were not big enough to supply the labor requirements of the factories. Rural settlements soon were emptied by the promise of prosperity and independence from communal living. Massive amounts of previously agricultural workers were migrating to the cities with no vision of what may be in store for them. What awaited