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We analyze factors explaining the very different patterns of industrialization across the 42 counties of England … between 1760 and 1830. Against the widespread view that high wages and cheap coal drove industrialization, we find that … industrialization was restricted to low wage areas, while energy availability (coal or water) had little impact Instead we find that …
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Against the consensus that sailing ship technology was stagnant during the early Industrial Revolution,we find striking improvements in safety at sea. Between 1760 and 1825, the risk of being wrecked for Atlantic shipping fell by one third, and of foundering by two thirds, reflecting...
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Although largely absent from modern accounts of the Industrial Revolution, watches were the first mass produced consumer durable, and were Adam Smith's pre-eminent example of technological progress. In fact, Smith makes the notable claim that watch prices may have fallen by up to 95 per cent...
Persistent link: https://www.econbiz.de/10010493004
Sustained economic growth in England can be traced back to the early seventeenth century. That earlier growth, albeit modest, both generated and was sustained by a demographic regime that entailed relatively high wages, and by an increasing endowment of human capital in the form of a relatively...
Persistent link: https://www.econbiz.de/10010426561
successful industrialization occurs in regions that start with low wages and high mechanical skills, and show that these two … contrast, literacy and access to capital have no power in predicting industrialization, nor does proximity to coal. Although …
Persistent link: https://www.econbiz.de/10012231403
capabilities facilitated industrialization in two important ways. First, a large supply of instrument and watch makers provided …
Persistent link: https://www.econbiz.de/10012231405
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