The Take-Off in Britain
The process of industrialization which gathered momentum in Britain during the second half of the eighteenth century and initiated the sustained upward movement of real incomes that the Western world now takes for granted, involved revolutionary changes in the structure and organization of the economy. The origins of some of these changes can be traced to earlier centuries. Some of them are still working themselves out. It is generally agreed, however, that the crucial transformation occurred fairly rapidly — certainly within the century between 1750 and 1850, probably in a considerably shorter time. More recently Professor Rostow has given added interest to the problem of identifying and of timing the British industrial revolution by viewing it as the prototype of the take-off — ‘that decisive interval of the history of a society when growth becomes its normal condition’.1
KeywordsEighteenth Century National Income Industrial Revolution Capital Formation Sustained Growth
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