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Merchants and Mechanics

Exploring the History of Economic Growth

Category: history of economic growth

Feudalism

Feudalism

March 19, 2018December 28, 2022 Posted in economic institutions, history of economic growth, history of trade and commerce, political institutions, property rights

In the Middle Ages, much of Europe was sparsely populated. People lived in small settlements separated by lawless wilderness, so they had to be self-reliant.

The End of Feudalism

The End of Feudalism

March 12, 2018December 28, 2022 Posted in economic institutions, history of economic growth, history of technology, history of trade and commerce, property rights

Feudalism ended when the factors that had supported it disappeared: small and isolated populations, limited markets, the dominance of the knight in warfare.

Why Were the Americas so Underdeveloped when Europeans Reached Them?

Why Were the Americas so Underdeveloped when Europeans Reached Them?

February 19, 2018February 19, 2023 Posted in history of economic growth, history of technology, technological progress

Eurasia was able to produce food surpluses more than a thousand years before the Americas. Food surpluses led to specialization, which led to rapid development.

Economic Ideology and the Glorious Revolution

Economic Ideology and the Glorious Revolution

January 29, 2018May 12, 2023 Posted in economic institutions, history of economic growth, history of trade and commerce, political institutions, property rights, social institutions

At the time of the Glorious Revolution, an ideology that emphasized the value of labour pushed aside an ideology that justified the power of the landowners.

The Industrial Revolution

The Industrial Revolution

January 8, 2018December 28, 2022 Posted in history of economic growth, history of trade and commerce, Industrial Revolution, technological progress

Britain experienced a period of rapid technological progress that forever changed the nature of work, and that allowed it to dominate markets around the world.

The Steam Engine

The Steam Engine

January 1, 2018December 28, 2022 Posted in history of economic growth, history of science, history of technology, Industrial Revolution, technological progress

The steam engine powered a new generation of industrial machinery, and gave rise to modes of transportation that would stitch the world together.

The Scientific Revolution, the Enlightenment, and the Industrial Revolution

The Scientific Revolution, the Enlightenment, and the Industrial Revolution

December 25, 2017February 19, 2023 Posted in economic institutions, history of economic growth, history of science, history of technology, Industrial Revolution, political institutions, property rights

The Industrial Revolution was one aspect of a dramatic change in the way that people thought of themselves and the world in which they lived.

Why Did the Industrial Revolution Happen in Britain in the Eighteenth Century?

Why Did the Industrial Revolution Happen in Britain in the Eighteenth Century?

December 18, 2017February 16, 2023 Posted in history of economic growth, history of technology, history of trade and commerce, Industrial Revolution, technological progress

The Industrial Revolution occurred because labour was expensive relative to capital and coal, making technologies that replaced labour with machines profitable.

The Nineteenth-Century Rules for Growth

The Nineteenth-Century Rules for Growth

December 15, 2017May 26, 2023 Posted in history of economic growth, history of trade and commerce, political institutions, social institutions

Britain’s first-mover advantage meant that other countries could not compete with it under free markets. They responded with a variety of protective policies.

The Second Industrial Revolution

The Second Industrial Revolution

December 11, 2017December 28, 2022 Posted in history of economic growth, history of science, history of technology, Industrial Revolution

The Second Industrial Revolution produced a range of new technologies, including industrial chemistry, electric power, and the internal combustion engine.

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