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Why did Western countries become so much wealthier than the rest of the world? What explains the huge rise in incomes during the Industrial Revolution - and why did Britain lead the way?
In the years between the Glorious Revolution and the Great Exhibition, the British economy was transformed. Joel Mokyr's landmark history offers a wholly new perspective for understanding Britain's extraordinary rise during the Industrial Revolution, showing how intellectual, rather than material, forces were the driving force behind it. While empire, trade, resources and other factors all played a part, above all it was the creative ferment of the Enlightenment - with its belief in progress and scientific advancement - that affected the economic behaviour of thinkers, inventors, entrepreneurs and artisans, taking Britain into the modern era.
Linking ideas and beliefs to the heart of modern economic growth, The Enlightened Economy will transform the way we view the Industrial Revolution.
942 pages, Kindle Edition
First published January 1, 2010
The Enlightenment was the reason that the Industrial Revolution was the beginning of modern economic growth and not another technological flash in the pan. In previous ages, new techniques, even revolutionary ones, soon crystalised around the dominant designs that emerged and after a while progress fizzled out. Invention before the Industrial Revolution had been an event, an efflorescence, rather than a continuous process.
The comprehensiveness of the book is both a triumph, and a curse. For example, on page 352 there is a discussion of methods of capital accounting in the early Industrial Revolution which includes references to the Dowlais Iron Company, Vitruvius the Roman writer, an eighteenth century accounting manual by John Mair, John Smeaton the engineer, Joshua Milne a cotton spinner, and Sidney Pollard the modern historian. . . But at the end of this discussion, informed as we are, it is evident little would have changed in Britain by 1850 had these early entrepreneurs been clearer on depreciation accounting.