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Agricultural and Industrial Change, 1700-1850

Agricultural and Industrial Change, 1700-1850. Why 18 th Century England?. Crop rotation (four field system) Turnips and clover as feed crops Scientific breeding of animals Use of manure as fertilizer Land reclamation and enclosures

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Agricultural and Industrial Change, 1700-1850

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  1. Agricultural and Industrial Change, 1700-1850

  2. Why 18th Century England? • Crop rotation (four field system) • Turnips and clover as feed crops • Scientific breeding of animals • Use of manure as fertilizer • Land reclamation and enclosures • Specialization attuned to market conditions (grain, meats, wool)

  3. Transforming the English Economy • Low food prices create more consumer demand, purchasing power, population growth • The Colombian exchange (potatoes) • International market for food allows for capital formation • Surplus farm labor spurs urbanization

  4. Adam Smith (1723-1790) • Natural laws of economics (The Wealth of Nations, 1776) • Anti-mercantilist ethic (free trade) • Self interest and competition • The Law of Supply and Demand (the invisible hand) • equilibrium prices • Laissez faire ideology

  5. Facilitating English Industrialization • Transportation improvements (canals, railroads) • Innovation and technological developments (the steam engine, factory system, entrepreneurship) • Access to natural resources (coal, cotton, water) • Political stability and non-interference • Laissez-faire ideology (competition fostering improvement)

  6. The Impact of English Industrialization • Urbanization and the factory world • Women and children increasingly in the workplace • Class formation (wage laborers without property, bourgeois capitalists) • Calls for regulation (limiting hours, workplace reforms) • Resistance to laissez-faire industrialization (Luddites, labor unionization, utopian socialism, Marxism) • Need for new markets for surplus production (imperialism)

  7. Impediments to Continental Industrialization • Lack of investment capital • Political instability • Statism (taxes and monopoly) • Little industrial expertise

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