“the Industrial Revolution Could Not Have Happened Without Britain’s Involvement in the World Economy”.

Topics: Industrial Revolution, United Kingdom, Steam engine Pages: 4 (1385 words) Published: May 30, 2012
“The Industrial Revolution could NOT have happened without Britain’s involvement in the world economy”. The industrial revolution was a major event that took place over a fair duration of time around the 17th century which has changed the face of this planet. The change came about initially in Europe and then spread to latte parts of the world incorporating technology and efficiency in to daily production and ultimately decreasing inputs and increasing outputs. However, this appears to be beneficial, which it was, but there were negative effects which were associated with these changes. This essay will discuss Britain’s involvement in the world economy with regards to the industrial revolution and how it benefitted societies on a whole, but will also touch on the negative connotations which came about through these events. Many economic historians try to analyse why the industrial revolution came about in Europe and especially in Britain. Factors such as international trade, culture, geography, institutions, incentives and possibly luck all contributed to why Britain leaped ahead of other countries in the race for power and wealth. The Malthusian trap is the theory that explains pre-industrial revolution economies where there were no sustained increases in living standards; this was the time period before 1730. Britain’s institutions were very advanced and subsequently educated people which allowed for inventions to take place and industrial ideas to emerge. Small improvements started being made and then a few “heroic inventions” were made such as the cotton spinner, the steam power and the manufacture of iron and coal. Figures show that before the invention of the cotton spinner, labourers were employed to hand spin cotton which roughly took around 50,000 hours to spin one hundred pounds of cotton, by the 1790s it was taking a merely 300 hours to spin the same amount of cotton with the cotton spinner. The steam engine was invented by an engineer by the name...
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