The paper “ Chinese and British Economic History” is a provoking example of the essay on macro & microeconomics. Industrialization in Western Europe was characterized by the industrial revolution. The industrial revolution was characterized by changes in the way people produced goods. Before the industrial revolution, people produced goods and performed services without machines. The advent of machine use changed how things were done starting with Great Britain and then spreading to Western Europe. It is worth noting that the industrial revolution did not start in Asia despite the continent having had the requisite technology earlier than Western Europe. IntroductionMany people have posed the question whey Britain was the first country to industrialize.
Researchers have sought to find out the economic, geographical, political, or ecological qualities that Britain possessed and other countries lacked. Researchers can understand why Britain was first to industrialize by examining what those countries did and others did not. Many countries in Western Europe followed in the footsteps of Britain and industrialized. It is peculiar that some Asian countries failed to industrialize despite the fact that those countries had the necessary technology to attain the feat that Britain and the rest of Western Europe had achieved. DiscussionThere were two stages of economic growth in Britain from 1700 to 1870.
Britain experienced rapid growth in population. Many innovations were made during the eighteenth century. Despite the growth in population as well as innovations in technology, the economy did not change much. The income of the nation did not improve greatly and the workforce did not change much in its structure (Deng 2000, p. 28). Despite improvements in the economy, the areas that experienced growth were the traditional areas.
The second phase of the industrial revolution in Britain took place from 1800 to 1825. During the second phase, Britain saw increased use of coal to run its industries. As a result of using fossil fuels, the population rose rapidly while at the same time, urban areas expanded also (Deng 2000, p. 23). The per capita income rose and the workforce was restructured to reflect the realities of the day.
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