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Industrialisation: Why Britain Got There First, with Nicholas Crafts, University of Warwick 1/2

[Video Content List Below] 26 November 2014: As part of the Legatum Institute's History of Capitalism lecture, Nicholas Crafts, Professor of Economics and Economic History at the University of Warwick, gave a lecture on the industrial revolution. Introductory remarks by Hywel Williams, Senior Adviser at the Legatum Institute. More information: http://li.com/events/19th-century-ind... List of Content 00:00:15 - Legatum Institute Introduction 00:03:45 - Introduction to the lecture 00:06:21 - What is Industrial Revolution? 00:07:22 - Context 00:08:36 - Real GDP/Person, 1086 - 1850 00:09:21 - Silver Wages, 1650 - 1840 00:10:11 - Concepts of the Industrial Revolution 00:12:25 - British Industrial Revolution 00:15:29 - Growth During the British Industrial Revolution 00:16:43 - Employment Shares 00:17:48 - Shares of World Industrial Production 00:18:37 - Britain as an Outlier 00:19:53 - Agricultural/Total Employment at British 1940 Income Level 00:20:32 - Family to Capitalist Farming 00:20:47 - is 'Slow' Growth Plausible? 00:25:49 - Slow TFP Growth 00:27:31 - Sources of power, 1760-1907 00:28:31 - Steam Engine Technology 00:29:22 - Total Steam Contribution to Growth of Labour Productivity 00:29:58 - Industrial-Revolution Britain 00:30:48 - Aspects of Broad Capital Accumulation, 1801-1831 00:31:26 - A Difficult Question 00:32:02 - Why Britain? 00:34:29 - Why not Sooner... or Later? 00:37:10 - Innovation in the British Industrial Revolution (Allen, 2009) 00:38:45 - Real Price of Energy 00:39:07 - Allen's argument in Detail 00:40:01 - Internal Rate of Spinning Jenny c. 1780 00:41:46 - rational Adoption of Jenny 00:42:06 - The Enlightened Economy 00:43:36 - Changes in 19th Century Economic Geography 00:44:50 - Location of 19th Century Cotton Textiles 00:46:00 - Map of Cotton Employees 00:46:29 - Why Lancashire? : Traditional 00:47:59 - Map - Relative Humidity 00:48:22 - Why Lancashire? : Econometrics 00:48:36 - Lancashire Textiles and Globalization (Leunig, 2005) 00:48:59 - Why Lancashire? : Policy 00:49:41 - Sic Transit Gloris Mundi 00:50:21 - Legacies of the Early Start 00:52:36 - Q&A