Industrial Revolution Flashcards
(107 cards)
Prior to the Industrial Revolution, how does Nick Crafts characterise Britain?
as a rich economy with a predominantly rural population, there was inequality but the economy had a surplus beyond basic subsistence
Where was the pre-IR economic surplus located?
In the top 10%
How does Crafts characterise data on the IR?
as “best guesses rather than hard facts”
How can we describe the labour before/ early IR?
families divided their labour between different sectors, factory work was only beginning to replace cottage industry
By 1840, what percent of industrial labour remained in cottage industry?
60%
What did P. Mathias single out as the most important feature of an industrial revolution?
‘the fundamental redeployment of resources away from agriculture’
How were pre-IR investments distributed?
39% to agriculture, 19% to transport, 19% to housing
When did manufacturing investment exceed agricultural investment?
1820s
What percentage of the population did London hold in 1700?
11%
What role did the size of London play in the progress of the economy?
it ‘acted as a stimulus’ to the commercialisation of agriculture and to transport improvements
What was the increase in income per head 1700-1760? When did it start to grow significantly?
0.3% pa, didn’t grow significantly until 1825-50
What is the (broad) traditional interpretation of the IR?
That there was rapid growth from 1780+ (based on assumptions on missing evidence)
What is the (broad) revisionist interpretation of the IR?
That industrial output growth is less than originally assumed (based on available evidence)
What is an issue with studying data from the IR?
Even if we did have all data for all sectors, there would have had to have been an implausible rate of growth at 4% (1700s) and 6% (1800s)
What was occurring domestically in the years leading up to the IR?
markets were becoming integrated because of falling transport costs, there was greater specialisation, and rising scale and efficiency of farms
In what period were exports rising faster than GDP? Why?
1700-1760. Result of specialisation in international trade, and Long term changes on the supply-side
How does Crafts characterise the early eighteenth-century economy?
‘characterised by quite considerable short-run fluctuations in output and employment’
How can we characterise the eighteenth-century business cycle?
No regularity because of intermittent shocks such as war, exports dictated imports changes
Where does Crafts claim there to have been ‘spectacular acceleration’?
In the cotton industry 1760s+
What must be remembered when accounting for the rapid growth in iron and cotton?
These industries only accounted for 10% of industrial output even in 1770.
What is clear if the data is allowed to speak for itself free of historians’ periodisation?
growth occurs 1700-1825, mo singled out short period such as the supposedly ‘decisive’ 1780s
What can be said about pre/early technological change during IR?
Minimal impact to output, but does illustrate the pre-IR inventive activity
What are four examples of technological advancements which occurred in the eighteenth-century?
Darby’s Coke Smelting (1709), Newcomen’s Steam Pumping Engine (1712), Watt’s Steam Engine (1763), Hargreaves’ Jenny (1768)
What is a crucial quote from Nick Crafts on the IR?
‘The major transformation had still to come. Yet, by 1780 a start had been made.’