Industrialisation: Why Britain Got There First, with Nicholas Crafts, University of Warwick 1/2

[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-ind...

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