The Industrial Revolution was the transition to new manufacturing processes in Great Britain, continental Europe, and the United States, that occurred during the period from around 1760 to about 1820–1840. This transition included going from hand production methods to machines; new chemical manufacturing and iron production processes; the increasing use of water power and steam power; the development of machine tools; and the rise of the mechanized factory system. Output greatly increased, and a result was an unprecedented rise in population and in the rate of population growth. The textile industry was the first to use modern production methods, and textiles became the dominant industry in terms of employment, value of output, and capital invested.
Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions. The field can encompass a wide variety of topics, including equality, finance, technology, labour, and business. It emphasizes historicizing the economy itself, analyzing it as a dynamic entity and attempting to provide insights into the way it is structured and conceived.
The British Agricultural Revolution, or Second Agricultural Revolution, was an unprecedented increase in agricultural production in Britain arising from increases in labour and land productivity between the mid-17th and late 19th centuries. Agricultural output grew faster than the population over the hundred-year period ending in 1770, and thereafter productivity remained among the highest in the world. This increase in the food supply contributed to the rapid growth of population in England and Wales, from 5.5 million in 1700 to over 9 million by 1801, though domestic production gave way increasingly to food imports in the 19th century as the population more than tripled to over 35 million. Using 1700 as a base year (=100), agricultural output per agricultural worker in Britain steadily increased from about 50 in 1500, to around 65 in 1550, to 90 in 1600, to over 100 by 1650, to over 150 by 1750, rapidly increasing to over 250 by 1850. The rise in productivity accelerated the decline of the agricultural share of the labour force, adding to the urban workforce on which industrialization depended: the Agricultural Revolution has therefore been cited as a cause of the Industrial Revolution.
The Midlands are a part of England that broadly correspond to the Kingdom of Mercia of the Early Middle Ages, bordered by Wales, Northern England, Southern England and the North Sea. The Midlands were important in the Industrial Revolution of the 18th and 19th centuries. They are split into the West Midlands and East Midlands. The region's biggest city, Birmingham – often considered the social, cultural, financial and commercial centre of the Midlands, – is the second-largest city and metropolitan area in the United Kingdom.
Enclosure or Inclosure is a term, used in English landownership, that refers to the appropriation of "waste" or "common land" enclosing it and by doing so depriving commoners of their rights of access and privilege. Agreements to enclose land could be either through a formal or informal process. The process could normally be accomplished in three ways. First there was the creation of "closes", taken out of larger common fields by their owners. Secondly, there was enclosure by proprietors, owners who acted together, usually small farmers or squires, leading to the enclosure of whole parishes. Finally there were enclosures by Acts of Parliament.
Malthusianism is the theory that population growth is potentially exponential, by the Malthusian growth model, while the growth of the food supply or other resources is linear, which eventually reduces living standards to the point of triggering a population decline. This event, called a Malthusian catastrophe occurs when population growth outpaces agricultural production, causing famine or war, resulting in poverty and depopulation. Such a catastrophe inevitably has the effect of forcing the population to "correct" back to a lower, more easily sustainable level. Malthusianism has been linked to a variety of political and social movements, but almost always refers to advocates of population control.
The history of capitalism is diverse and the concept of capitalism has many debated roots. The history of the past 500 years is concerned with the development of capitalism in its various forms. Capital accumulated by a variety of methods, at a variety of scales, became associated with much variation in the concentration of wealth and economic power. Capitalism gradually became the dominant economic system throughout the world.
The Great Divergence or European miracle is the socioeconomic shift in which the Western world overcame pre-modern growth constraints and emerged during the 19th century as the most powerful and wealthy world civilization, eclipsing previously dominant or comparable civilizations from the Middle East and Asia such as the Ottoman Empire, Mughal India, Qing China, Tokugawa Japan, and Joseon Korea.
Nicholas Francis Robert Crafts CBE is Professor of Economic History at the University of Sussex Business School, a post held from 2019. Previously he was Professor of Economics and Economic History at the University of Warwick, a post he held from 2005. Previously he was a Professor of Economic History at London School of Economics and Political Science (LSE) between 1995-2005. He also teaches for the TRIUM Global Executive MBA Program, an alliance of NYU Stern, the LSE and HEC School of Management. His main fields of interest are the British economy in the last 200 years, European economic growth, historical data on the British economy, the Industrial Revolution and international income distribution, especially with reference to the Human Development Index. He has produced a substantial body of papers for academic journals, the British government and international institutions such as the International Monetary Fund.
Joel Mokyr is a Netherlands-born American-Israeli economic historian. He is a professor of economics and history at Northwestern University, where he has taught since 1974; in 1994 he was named the Robert H. Strotz Professor of Arts and Sciences. He is also a Sackler Professorial Fellow at the University of Tel Aviv's Eitan Berglas School of Economics.
Commercial whaling in the United States dates to the 17th century in New England. The industry peaked in 1846–1852, and New Bedford, Massachusetts, sent out its last whaler, the John R. Mantra, in 1927. The Whaling industry was engaged with the production of three different raw materials: whale oil, spermaceti oil, and whalebone. Whale oil was the result of "trying-out" whale blubber by heating in water. It was a primary lubricant for machinery, whose expansion through the Industrial Revolution depended upon before the development of petroleum-based lubricants in the second half of the 19th century. Once the prized blubber and spermaceti had been extracted from the whale, the remaining majority of the carcass was discarded.
Robert Paul Brenner is an American economic historian. He is a professor emeritus of history and director of the Center for Social Theory and Comparative History at UCLA, editor of the socialist journal Against the Current, and editorial committee member of New Left Review. His research interests are early modern European history, economic, social and religious history, agrarian history, social theory/Marxism, and Tudor–Stuart England.
The bowhead whale is a species of baleen whale belonging to the family Balaenidae and is the only living representative of the genus Balaena. It is the only baleen whale endemic to the Arctic and subarctic waters, and is named after its characteristic massive triangular skull, which it uses to break through Arctic ice. Other common names of the species included the Greenland right whale, Arctic whale, steeple-top, and polar whale.
Ronald Max Hartwell (1921–2009) was an Australian-born liberal economic historian of the British Industrial Revolution.
Katherine Jane Humphries, CBE FBA, is a Fellow of All Souls College, University of Oxford with the Title of Distinction of professor of economic history. Her research interest has been in economic growth and development and the industrial revolution. She is the former president of the Economic History Society and the current vice-president of the Economic History Association.
The economic history of Sweden has since the Iron Age been characterized by extensive foreign trade based on a small number of export and import commodities, often derived from the widely available raw materials iron ore and wood. An industrial expansion in the latter half of the 19th century transformed the society on many levels. Natural-resource-rich regions benefited from the First Industrial Revolution. A growth surge in Sweden later benefited virtually the whole country during the Second Industrial Revolution. It fostered a broad export-oriented engineering industry with companies such as LM Ericsson, Asea, Alfa Laval, Aga, Electrolux, SKF and Volvo reaching well established positions on the global market and becoming drivers of GDP growth. In addition to engineering, the pulp and paper, steel, and chemical industries developed to reach international prominence. By the 1970s, Sweden had become one of the wealthiest nations of the world. The growth slowed down during the following decades, which were characterized by public deficits and structural change.
The Vancouver School of Economics is a school of the University of British Columbia located in Vancouver, BC, Canada. The school ranks as one of the top 25 in the world and top in Canada. The school exhibits high research activity and offers undergraduate and graduate degrees.
Kevin Hjortshøj O'Rourke, is an Irish economist and historian, who specialises in economic history and international economics. Since 2019, he has been Professor of Economics at New York University Abu Dhabi. He was Professor of Economics at Trinity College, Dublin from 2000 to 2011, and had previously taught at Columbia University and University College, Dublin. From 2011 to 2019, he was Chichele Professor of Economic History at the University of Oxford and a Fellow of All Souls College, Oxford.
Stephen Noel Broadberry FBA is a British economist and academic. He is Professor of Economic History at the University of Oxford, and a professorial fellow at Nuffield College, Oxford. He has been editor of the Economic History Review, the Essays in Economic and Business History, and the European Review of Economic History. He is president of the Economic History Society and was president of the European Historical Economics Society. He was elected a Fellow of the British Academy (FBA) in 2016. Broadberry received a B.A. in Economics and Economic History from the University of Warwick in 1978 and a M.Phil/D.Phil from the University of Oxford in Economics in 1982.
Engels' pause is a term coined by economic historian Robert C. Allen to describe the period from 1790 to 1840, when British working-class wages stagnated and per-capita gross domestic product expanded rapidly during a technological upheaval. Allen named the period after German philosopher Friedrich Engels, who describes it in The Condition of the Working Class in England. Economists have analyzed its causes and effects since the nineteenth century, with some questioning its existence. Twenty-first-century technological upheaval and wage stagnation have led economists and academics to draw parallels between the two periods.
