What were the major factors for Great Britain's economic development after 1750?
pohnpei397 | Certified Educator
There were a number of factors that were important in Great Britain's economic development during this time. I will look at three of the most important of these here.
- Industrialization. The Industrial Revolution is said to have started sometime after 1750 in England. The fact that England industrialized first was a major economic boost for it and helped it to develop.
- Government. More than many other European governments, the British government created what we would today call a stable business environment. The government itself was stable and it passed laws protecting private property and allowing for a great deal of economic freedom.
- Empire. The British came to control a large empire, the most important part of which was probably India. This empire gave it a source of raw materials and a market for its finished goods.
All of these factors contributed greatly to Great Britain's economic development.