¶ … 1770 and 1850, the economy of England became industry based as opposed to agriculture based as it used to be before (Toynbee, 1884). This was due to technological inventions that were ongoing in many spheres that were finally integrated. This led to the development of factories that really never existed before. The development of industries was owed to better transport system that created larger markets. It took the society some time to adjust to the new economic system different from the agrarian economy they were conversant with. This paper seeks to highlight why industrial revolution started in Britain. There were quite a number of factors that led to British Industrial Revolution. One of the major factors that caused industrial revolution in Britain was the expansion of trade save for the mercantile economic policies that had early been instituted. Because of decline of feudalism, farmers were no longer bound to the land...
The decline of the guild system also caused the British industrial revolution. It was impossible for a guild for a particular trade to control whoever was intending to set up new business. The decline of the system of customary prices made the market to become freer. I the old system one could change the price at times when there shortages in order to maximize profit.Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
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