Карточки Econ History- Lecture 5 Industrial Revolution | Quizlet

When was the industrial revolution

1760-1830

The _____ revolution was vital to the birth of the industrial revolution

Agricultural

When was the industrial revolution

1760-1830

The _____ revolution was vital to the birth of the industrial revolution

Agricultural

The _____ acts gave most of the local small farmers land to large land owners

Enclosure

The agricultural revolution resulted in:

-Cheaper food

-Science and Machines

-Rapid non-rural population growth

-Cheap laborers

-Increased productivity

What were the main infrastructure/technological advancements that led to industrial revolution?

-Turnpikes

-Canals (England)

-Steam Engine

-Coal

What are the three stages of technological advancements?

-Invention

-Innovation

-Diffusion

Main inventions from the Industrial revolutiona are?

-Cotton

-Weaving

-Steam

What are the three theories and who founded them for why the industrial revolution happened in England?

-Idealist/cultural (Mokyr)

-Incentives/Real Wages (Allen)

-Hybrid Accounts/Endogenous Values (Clark)

gradual transformation of the traditional agricultural system- bigger farms, better equipment, better techniques

British Agricultural Revolution

When was the british agricultural revolution?

1700-1870

What were the key characteristics of the demographic revolution

-population growth

-decreased death rate

-urbanization

the "_________ Enlightenment": 'that part of the Enlightenment that believed that material progress and economic growth could be achieved through increasing human knowledge of natural phenomena and making this knowledge accessible to those who could make use of it in production

Industrial

a period of western thought and culture stretching from mid-17th-18th century including revolutions in science, politics and philosophy

The Enlightenment

What were the key insights in Mokyr's idealist theory of the industrialr evolution?

-rooted in scientific revolution of 16th century

-Social networks between scientists and industrialists

-movement of small group of highly trained and literate men

-scientific method to technology through experimentation

How did institutions contribute to the industrial revolution?

Defined property rights and patent system allowed for borrowing and research as inventors can claim their rewards

What is the multiple equilibrium theory?

-Theory that economies are stagnant and low growth with no incentive to innovate but once they industrialize it is worth it to innovate and starts a cycle of growth.

-Needs a outside shock to start

________ ________ theories explain the history of human development without relying on some external shock or cause

Endogenous growth

________-inventions "set in train long trajectories of advance that resulted in great increases in productivity". For example steam power or spinning jenny

Macro

________-inventions: "all the improvements in the trajectory of advance that elaborated macro-inventions and realized their possibilities". Improvements to existing ideas

Micro

Macro-inventions require committing to research and development which requires _________

Incentives

What is the induced innovation theory?

Theory that innovation address specific factor scarcities, for england it was scarcity of labor and traditional energy. So they innovated to reduce labor and utilize coal, which they had lots of.

a situation in which population growth outpaces economic growth, keeping living standards low and preventing long-term prosperity

Malthusian Trap

What is Clark theory of "the emergence of the modern man"?

Theory that the rich passed down traits required for an industrial economy because of a stable environment and population

The start of sustained technological progress

Industrial Revolution

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