What were the major factors for Great Britain's economic development after 1750?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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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.

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