Industrialisation: Why Britain Got There First, with Nicholas Crafts, University of Warwick 1/2
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[Video Content List Below] 26 November 2014: As part of the Legatum Institute's History of Capitalism lecture, Nicholas Crafts, Professor of Economics and Economic History at the University of Warwick, gave a lecture on the industrial revolution. Introductory remarks by Hywel Williams, Senior Adviser at the Legatum Institute. More information: http://li.com/events/19th-century-industrialisation-why-britain-got-there-first List of Content 00:00:15 - Legatum Institute Introduction 00:03:45 - Introduction to the lecture 00:06:21 - What is Industrial Revolution? 00:07:22 - Context 00:08:36 - Real GDP/Person, 1086 - 1850 00:09:21 - Silver Wages, 1650 - 1840 00:10:11 - Concepts of the Industrial Revolution 00:12:25 - British Industrial Revolution 00:15:29 - Growth During the British Industrial Revolution 00:16:43 - Employment Shares 00:17:48 - Shares of World Industrial Production 00:18:37 - Britain as an Outlier 00:19:53 - Agricultural/Total Employment at British 1940 Income Level 00:20:32 - Family to Capitalist Farming 00:20:47 - is 'Slow' Growth Plausible? 00:25:49 - Slow TFP Growth 00:27:31 - Sources of power, 1760-1907 00:28:31 - Steam Engine Technology 00:29:22 - Total Steam Contribution to Growth of Labour Productivity 00:29:58 - Industrial-Revolution Britain 00:30:48 - Aspects of Broad Capital Accumulation, 1801-1831 00:31:26 - A Difficult Question 00:32:02 - Why Britain? 00:34:29 - Why not Sooner... or Later? 00:37:10 - Innovation in the British Industrial Revolution (Allen, 2009) 00:38:45 - Real Price of Energy 00:39:07 - Allen's argument in Detail 00:40:01 - Internal Rate of Spinning Jenny c. 1780 00:41:46 - rational Adoption of Jenny 00:42:06 - The Enlightened Economy 00:43:36 - Changes in 19th Century Economic Geography 00:44:50 - Location of 19th Century Cotton Textiles 00:46:00 - Map of Cotton Employees 00:46:29 - Why Lancashire? : Traditional 00:47:59 - Map - Relative Humidity 00:48:22 - Why Lancashire? : Econometrics 00:48:36 - Lancashire Textiles and Globalization (Leunig, 2005) 00:48:59 - Why Lancashire? : Policy 00:49:41 - Sic Transit Gloris Mundi 00:50:21 - Legacies of the Early Start 00:52:36 - Q&A
Comments
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Would really be wonderful if we could see the sources for his figures.
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A characteristically engaging & informative talk by Prof Crafts. But his implied early C19 TFP stagnation is down to implausibly low GDP growth: show me 1.7% and I’ll show you the late 18th century. I expect a bit more more year-on-year oomph from the man who jointly invented our Industrial Revolution growth rates, however pessimistic!
I’m curious as to his take on the timing of peasant agriculture’s eclipse: it may have been gone by 1800, but by 1700? 1600? I agree entirely that agricultural productivity’s important, but when? It seems to be already up in the late 17th century. In that case the TFP growth lag is curious. Is it really telling us anything much that we can’t discern better from the raw data? -
Prof. Crafts' passion and knowledge in lecturing and publication are great! I hope he will come to Cambridge often for lectures:P
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