Economic History

2. The first industrial nation

2.1 Was the British industrial revolution an economic

miracle?
Theory and reality
2.2 The nature of the British industrial revolution
Impressions and pictures
What the data says
2.3 An economic interpretation of the British industrial
revolution

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Rostow and the concept of economic miracle

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Rostow and the concept of economic miracle

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 2.1 Pictures from the Industrial Revolution

Technical drawing of a Watt steam engine, 1787. James Watt (1736-1819), Scottish
engineer and inventor. He patented the steam locomotive. The term 'horse power'
was first used by him. In 1774, he established a manufactory of steam engines in
Soho, near Birmingham. 4
 2.1 Pictures from the Industrial Revolution

1. The Soho Manufactory near Birmingham, 1830, Owned by Matthew Boulton

(1728-1809) and James Watt (1736-1819).
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2. Cotton Factories, Union Street, Manchester, 1835.
 2.1 Pictures from the Industrial Revolution

1. Jethro Tulls seed plough pulled by horses and designed to drop seed, c 1733.
2. Garrett & Son's double-cylinder steam ploughing engine and tackle, 1862. 6
 2.1 Pictures from the Industrial Revolution

The opening of the Liverpool and Manchester Railway in 1830, the first inter-city railway in
the world 7
 2.1 The dark side of the Industrial Revolution

1. A child working in a mine as a 'drawer', 1842.

2. Female coal bearer, 1842. 8
 2.2 What the data says: growth of per capita GDP

Source: Broadberry & ORourke eds. 2010. Vol. 1, p. 2 9

2.2 What the data says: growth of British industrial output

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2.2 What the data says: weight of British industrial sectors

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2.3 An economic interpretation of the Industrial Revolution

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2.3 An economic interpretation of the Industrial Revolution

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2.3 An economic interpretation of the Industrial Revolution

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2.3 An economic interpretation of the Industrial Revolution

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2.3 An economic interpretation of the Industrial Revolution

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Conclusions and extensions:

1. The British industrial revolution brought many

relevant changes, but it was a slow process. The visible
size of changes was not replicated immediately in the
aggregate macro data.

2. The relevance of the industrial revolution can be

measured

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Conclusions and extensions:

3. The British industrial revolution needs to be

explained by institutional and economic factors.

4. The economic transformations that occurred during

the Industrial Revolution continued to be felt for a long
time after 1850 and spread to other parts of Europe and
the world.

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