Abstract
Issue is taken with two approaches which play down the significance of Great Britain's industrialization for its imperial expansion between 1750 and 1850: the 'gentlemanly capitalist' thesis of Cain and Hopkins, and studies emphasizing how British conquests in India were financed by local resources. It is argued that much of the East India Company's ability to raise war loans in India came from commercial links with an industrializing metropolis, especially via the China trade. The growth in British demand for Chinese tea depended heavily on industrially derived income and on urbanization. Britain made large overseas payments during the 1793-1815 European wars, the decisive phase of imperial advance, on the strength of industrial exports.
Journal Information
The Economic History Review publishes articles based on original research on all aspects of economic and social history. The Review is edited on behalf of the Economic History Society by leading scholars. It has been published since 1927 and is one of the world's leading journals in the field. The Review welcomes contributions based on the full range of methodological approaches used by economic and social historians and is pleased to publish high quality research on the economic and social history of any area of the world. The emphasis is on broad coverage of themes of economic and social change, including their intellectual, political and cultural implications. In addition to regular papers, some issues contain contributions to a series of 'Surveys and Speculations' which are more reflective survey articles. For many years past a comprehensive annual list of publications on the economic and social history of Great Britain and Ireland has been published. Each issue also contains a substantial number of book reviews. JSTOR provides a digital archive of the print version of Economic History Review. The electronic version of Economic History Review is available at //www.interscience.wiley.com. Authorized users may be able to access the full text articles at this site.
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Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. Our online platform, Wiley Online Library [wileyonlinelibrary.com] is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.
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Abstract
Britain had a unique wage and price structure in the eighteenth century, and that structure is a key to explaining the inventions of the industrial revolution. British wages were very high by international standards, and energy was very cheap. This configuration led British firms to invent technologies that substituted capital and energy for labour. High wages also increased the supply of technology by enabling British people to acquire education and training. Britain's wage and price structure was the result of the country's success in international trade, and that owed much to mercantilism and imperialism. When technology was first invented, it was only profitable to use it in Britain, but eventually it was improved enough that it became cost-effective abroad. When the 'tipping point' occurred, foreign countries adopted the technology in its most advanced form.
Journal Information
The Economic History Review publishes articles based on original research on all aspects of economic and social history. The Review is edited on behalf of the Economic History Society by leading scholars. It has been published since 1927 and is one of the world's leading journals in the field. The Review welcomes contributions based on the full range of methodological approaches used by economic and social historians and is pleased to publish high quality research on the economic and social history of any area of the world. The emphasis is on broad coverage of themes of economic and social change, including their intellectual, political and cultural implications. In addition to regular papers, some issues contain contributions to a series of 'Surveys and Speculations' which are more reflective survey articles. For many years past a comprehensive annual list of publications on the economic and social history of Great Britain and Ireland has been published. Each issue also contains a substantial number of book reviews. JSTOR provides a digital archive of the print version of Economic History Review. The electronic version of Economic History Review is available at //www.interscience.wiley.com. Authorized users may be able to access the full text articles at this site.
Publisher Information
Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. Our online platform, Wiley Online Library [wileyonlinelibrary.com] is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.
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This item is part of a JSTOR Collection.
For terms and use, please refer to our Terms and Conditions
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Economic History Review © 2011 Economic History Society
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