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The Economic Underpinnings Of The First Industrial Revolution In England
Beginning of paper
The manufacture of military munitions and the development of a home
market were critical underpinnings of the first industrial revolution in Britain.
Military manufacturing supported by the British Government contributed directly
to technological innovation and spurred industrialization. This is because the
companies that choose to fulfill the go ....
Middle of paper
....manufactured textiles; specifically cotton for the home market. The growth of
the home market in Britain promoted industrialization in several ways. First, it
was a steady market which able to cushion the export market which was very
dynamic and had sudden fluctuations. This allowed a steady rate of growth even
when exports fell. Second, the home m.... |
| Word count: 439 |
Page count: 2 |
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