New Industries and Edwardian Boom, 1896-1914 Flashcards
Who claimed Britain’s industrial structure to be “one of the most outstanding features of the prewar economy”
M. W. Kirby claimed Britain’s industrial structure to be “one of the most outstanding features of the prewar economy”
By 1907 how much of industrial output came from old industries?
approximately 50% of total industrial output in 1907 was accounted for by old industries
What was occurring to the markets of old industries in the prewar era?
Old industries were having to increasingly rely on a narrow export market range (mainly empire and informal colonies)
What is one interpretation of the old and new industries in prewar Britain?
Some historians claim that bias towards old staples was an ‘over-commitment’ to technologically static industries with low growth potential
What industries does M. W. Kirby consider to be ‘wave of the future’?
industries which used new scientific instruments and advanced processes alongside new organisation methods etc.
Outline the climacteric thesis which is often applied to Edwardian economics:
The climacteric thesis means the ‘decline’ thesis of productivity and output in industry
What is a thesis in opposition to the traditional climacteric thesis?
Other historians have conceded that the climacteric thesis applies to exports, but that regarding output it is clear that productivity growth was dependent upon tech advancements, which were small but commonplace
What is one focal point of the over-commitment interpretation of old industries in Edwardian Britain?
Historians often query why in response to foreign competition and narrowing markets Britain went into new and less prosperous markets instead of diversifying the economy
What is one argument often applied to the perseverance of old industries well into the twentieth century?
Many historians often turn to the ‘early start’ argument- Britain had industrialised before its competitors- who were now industrialising on much more modern terms
What is the issue with the ‘early start’ interpretation of the Edwardian economy?
Surely the pioneering economy should be able to maintain its trailblazing nature? The countries which industrialised on modern terms had equal issues with the entanglement of capital
What is a secondary explanation for the prevailing of new industries into the Edwardian era?
Some historians highlight the collective failures of industrialists to move away from “safe” imperial markets and traditional staple industry production and practice
What contributed to the shrinking of overseas markets for Britain?
British businesses had little marketing or advertisement presences abroad, whereas other nations were aided by consulates / marketing teams
Is the third generation decline argument applicable to the continuation of old industries into the Edwardian era?
Sort of. Historians have certainly applied it, highlighting the refusal to reorganise labour etc and instead just cut wages, but exogenous market factors were just as to blame
How can failures of entrepreneurship be analysed?
Entrepreneurship failures can be analysed through looking at rationalisation of industry (i.e. techniques and organisation)
How did J. M. Keynes characterise the period 1870-1914?
Keynes said of the period 1870-1914 that it was “an extraordinary episode in the economic progress of man”,
How can the prevailing of old industries be summarised into one sentence?
it was commercial stability based upon pax Britannica, this allowed new industries to develop in a relatively safe environment
Outline the importance of cotton to British exports in 1850 and 1913?
In 1850 cotton was worth 50.7% of the total value of exports, by 1913 it was worth only 24.1% of the total value of exports
What was the volume growth of coal between 1880-1913?
Coal grew from 147mil tonnes to 287mil tonnes in the period 1880-1913
What was a cause for the shrinking export movements?
The instalment of tariffs across Europe and America to protect growing domestic industries forced Britain to rely on the traditional market of the empire- ie settled colonies
What does the term ‘Zollverein’ mean?
Zollverein refers to a customs union
What are two flaws with the concept of the British imperial Zollverein argument?
- An imperial Zollverein was an antithesis to the City’s cosmopolitan capitalism and growing market interests. 2. Tariff protections favouring the empire may have been good for mets, but had little appeal for cotton and shipbuilding which had expanding markets 1904-14
What does M. W. Kirby highlight as the overall role of international economic change?
M. W. Kirby argues that Britain’s transition to a diversified economic structure being smooth was wholly dependent on a stable and expanding international economy
What shows the consumerist culture emerging in the Edwardian era?
Gordon Selfridge opened Selfridges in 1909, service sector had rapid employment increases
What can be said of the changes in domestic demand in the late Victorian and Edwardian eras?
Changes in demand were met by changes in manufacturing, transport and distribution.
Who claims that there was a retailing revolution 1850-1914?
The idea of a ‘retailing revolution’ comes from W. H. Fraser
What hindered economic advancement in the late 19th and early 20th centuries?
Repressive legislation which was in force from 1865-96 discouraged the development of new industries and overall diversification of the economy
When does T. May believe there to have been a turning point in the diversification of the British economy?
T. May thinks that around 1900, Britain began to ‘make good’ of its late start at diversifying
What did S. Sayer claim in regards to contemporary interest in the motorcar industry?
For S. Sayers, cars were “the toy not of every rich man, but only of those with a taste for mechanical things”
What fact highlights the lack of interest in motorcars in prewar Britain?
one country town of 16,000 had only 4 cars
Why was electricity slow to catch on?
Electricity provided a supply for a demand already been met by gas power, which in the case of light was still 10x more effective than electricity
Where did electricity see significant headway?
In railways and trams- between 1897 and 1906 2000 miles of electrified tram rail was built
What is a common interpretation of the British electrical industry?
Historians such as I. Byatt claim that the British electrical industry was not an industry on its one at all, but an offshoot of foreign companies in Britain
Where was Britain a leading producer and why?
Britain was a leading producer in the chemicals industry (3rd), because any economy could find a niche product in which they could perfect technique
How can we prove Britain’s success in the chemicals industry?
Nobel’s explosives factory in Scotland was the latest in the world, producing 10,000 tonnes pa in 1880s
What is an example of British industrialists refusing to change methodologies in light of international developments
British industrialists clung to the traditional Leblanc process in alkali production despite the Solvay process producing 1.65mil tonnes by 1902 compared to 150,000 Leblanc
What was the damage done by chemical industrialists refusing to change?
Not that much damage, the industry continued until 1920s because of incremental improvements long-term which other economies hadn’t done and because of business amalgamations improving production
In electricity how much of British industry was actually foreign?
By 1914, 3/4 of all major British firms were offshoots of foreign firms such as Siemens, Westinghouse and GE.
What does R. S. Sayers claim about technological change?
R. S. Sayers claims that ‘technological progress does not occur smoothly’ - this is what was happening in the prewar era
What was the nature of new and old exports?
In the Edwardian era, 35% of exports went to the empire- but this proportion was higher for old industries, new industries were moving into the empire too
What does R. S. Sayers claim about the nature of international trade?
R. S. Sayers claims that 1900-1914 the terms of trade were against Britain, so there was a need to innovate/ rely on the home market such as with bicycles