Why Are Some Countries Rich And Other Countries Poor?

To start off, England had all the natural resources needed to industrialize. England had a natural supply of wool, cotton, coal, iron, lead, and tin (doc 1). These are all resources that are needed and helpful when industrializing. Wool and cotton are especially good for the textile industry, whereas iron was great for making tools and machinery. Along with these resources, England’s location enabled trading due to it’s many waterways. You can not be more than 70 miles from the sea in England (doc 4). Even the animals in the country were an advantage. For example, the sheep in England gave off the best wool (doc 4). Having natural resources helped England industrialize because it saved the country from having to trade, and/or travel to other countries in order to get what they needed. So many of the natural resources needed to industrialize were found in England. England had everything from coal to power

The author also mentions that China-based their economy on the exchange of silver. Another important thing in this chapter was the role of the Chinese voyages in the history of China and the entire world. The voyages that were created around the 1400s were used for three reasons,

The Industrial Revolution began in Great Britain for several reasons. By the mid-1700's, the country had become the world's leading colonial

The Industrial Revolution began in Britain during the late 1700s. It took place during the 18th and 19th centuries. Document 3 displays the look of the environment at the beginning of this shift in society. It is filled with smoky chimneys. Machines and factories led to great productions, such as new systems of transportation, more efficient communication, banking systems, a variety of manufactured goods, and an overall improvement of living. Britain was the perfect place for the Industrial Revolution to begin due to its coal and iron. Factories became a necessity because of the increase in demand for British goods (Staff, 2009). Before the Industrial Revolution, transportation consisted of wagons, led by horses. “In the early 1800s, American Robert Fulton built the first commercially successful steamboat” (Staff, 2009). Along

There are many turning points in history that can be examined with none exceeding in importance that which took place during the 18th century. For much of the 17th century, and into the early 18th century the primary economic system was the domestic method, utilizing merchants and skilled craftsmen. However, as the 18th century progressed the world began to undergo a revolution that is now known as the Industrial Revolution. Because of its resources, geography, and beneficial governmental policy, England led the way in this new age where the factory replaced rural work. While this was a time of great technological advancement, not everything was a positive result of the Industrial Revolution. Nonetheless, the Industrial Revolution brought a

Countries have different endowments. Differing climates give advantages to the production of different crops. Differing histories and inclinations result in different advantages in finance, skills and manufacturing.

The Industrial Revolution is a pivotal period in human history that allowed for the complete transformation of rural life. First coined in the 1830s, the Industrial Revolution was an eruption of inventions, technical adaptations, and economic expansion. The origins of the Industrial Revolution are traced back to Great Britain, the first pioneer in Westernization and technological change. Britain’s well-developed banks, large potential labor force, and abundance of raw materials made Britain the most industrialized country in the world during the late eighteenth and early nineteenth centuries. Although the Industrial Revolution brought beneficial changes to Britain and the countries that followed Britain’s path, industrialization provoked reform

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

The Industrial Revolution serves as a key to the beginnings of cutting edge Western society. The same number of history specialists has viewed, "the Industrial Revolution was no inconsequential progression of changes in cutting edge frameworks and era, and however a social change with social reasons furthermore critical social effects. The Industrial Revolution can be said to have made the European working-class. It made the European middle-class as well. In the wake of the Revolution, new social associations appeared. There is no denying the way that the Industrial Revolution began in England eventually after the focal point of the 18th century. England was the "First Industrial Nation." As one money related understudy of history commented in the 1960s, it was England which at first

The Industrial revolution was established in England around the late 1700’s. During this time, there was an increase of production by mecheniary and new resources. Several negative and positives outcomes came from the Industrial Revolution. The Industrial revolution fundamentally chnaged British life in the early 1800s by polluting the envierment, appaling working conditions and leaading British to writte acts to protect childrens rights.

Although the societal effects on Britain caused by the Industrial Revolution were initially catastrophic, the long-term effects transformed the continent into the place it is today. The Industrial Revolution was the shift from agriculture to the use of machinery for the production of goods. After the Agricultural Revolution in the early 1700’s, Britain’s population was increasing due to their new and efficient farming techniques. In the middle 1700’s, the Industrial Revolution began to take place in England since the nation had natural resources, a stable economy, and thousands of people in desperate need of work. During the Industrial Revolution, working conditions of the lower-class were beyond poor.

Over the years the economy of the industrial revolution has developed a tremendous growth with the use of inventions. This would cause the economy of certain places would grow into a more first world type of country with the use of manufacturing and transporting goods. Some essential inventions were founded in England then later spread to other continents in Europe and the Americas. Inventions like the Watt steam engine mainly benefited capitalists in England. Not only did this help England create the first fully functional railroads, this led to their complex trading system. However, not all inventions were ever so beneficial, in fact most have caused inadequate living conditions to the working poor. The cotton gin was another

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 was an ideal place for the Industrial Revolution to begin. It had a great location it was by the water, so it was perfect for employment. It had lots of natural resources; it had a good or rather a wealthy economy and also a large population. Countless people were domesticated workers. The

I was born in an under developed poor country, Sri Lanka. Growing up in Sri Lanka I used to ask my parents why are some people poor while others are rich. This eventually led me to question myself in a broader margin, why do some societies prosper while others remain stagnant and poor? In fact, this was the question Adam Smith was asking in his great book The Wealth of nations. While in the process of completing my undergraduate degree in Economics, I was able to talk to professors about this issue. In the meantime, my research made me realize that what my professors discussed with me and what I read in books are in fact similar. I believe that the key to a prosperous country or a society is protecting its own individual’s economic freedom. Some societies in the world flourish because they have better institutions and incentives.