Agricultural and Industrial Change, Agricultural and Industrial Change, 1700-18501700-1850

Why 18Why 18thth Century England? Century England?

Crop rotation (four field system)Crop rotation (four field system) Turnips and clover as feed cropsTurnips and clover as feed crops Scientific breeding of animalsScientific breeding of animals Use of manure as fertilizerUse of manure as fertilizer Land reclamation and enclosuresLand reclamation and enclosures Specialization attuned to market Specialization attuned to market

conditions (grain, meats, wool)conditions (grain, meats, wool)

Transforming the English EconomyTransforming the English Economy

Low food prices create more Low food prices create more consumer demand, purchasing consumer demand, purchasing power, population growthpower, population growth

The Colombian exchange (potatoes)The Colombian exchange (potatoes) International market for food allows International market for food allows

for capital formationfor capital formation Surplus farm labor spurs urbanizationSurplus farm labor spurs urbanization

Adam Smith (1723-1790)Adam Smith (1723-1790)

Natural laws of economics (Natural laws of economics (The The Wealth of NationsWealth of Nations, 1776), 1776)

Anti-mercantilist ethic (free trade)Anti-mercantilist ethic (free trade) Self interest and competitionSelf interest and competition The Law of Supply and Demand (the The Law of Supply and Demand (the

invisible hand) invisible hand) equilibrium pricesequilibrium prices Laissez faire ideologyLaissez faire ideology

Facilitating English IndustrializationFacilitating English Industrialization

Transportation improvements (canals, Transportation improvements (canals, railroads)railroads)

Innovation and technological Innovation and technological developments (the steam engine, factory developments (the steam engine, factory system, entrepreneurship) system, entrepreneurship)

Access to natural resources (coal, cotton, Access to natural resources (coal, cotton, water)water)

Political stability and non-interference Political stability and non-interference Laissez-faireLaissez-faire ideology (competition ideology (competition

fostering improvement)fostering improvement)

The Impact of English The Impact of English IndustrializationIndustrialization

Urbanization and the factory worldUrbanization and the factory world Women and children increasingly in the Women and children increasingly in the

workplaceworkplace Class formation (wage laborers without property, Class formation (wage laborers without property,

bourgeois capitalists)bourgeois capitalists) Calls for regulation (limiting hours, workplace Calls for regulation (limiting hours, workplace

reforms)reforms) Resistance to laissez-faire industrialization Resistance to laissez-faire industrialization

(Luddites, labor unionization, utopian socialism, (Luddites, labor unionization, utopian socialism, Marxism)Marxism)

Need for new markets for surplus production Need for new markets for surplus production (imperialism)(imperialism)

Impediments to Continental Impediments to Continental IndustrializationIndustrialization

Lack of investment capitalLack of investment capital Political instabilityPolitical instability Statism (taxes and monopoly)Statism (taxes and monopoly) Little industrial expertiseLittle industrial expertise