Ind Rev Stats Flashcards
(6 cards)
1
Q
Ratio of wages to subsistance
A
3-5 Unskilled
6+skilled
2
Q
Wages to energy
A
5x Newcastle
6x London
3
Q
Why did the U.K have higher wages
A
Positive feedback mechanism, D.O.L
A seafaring nation, development of shipping led to D.O.L and specialisation e.g London exporting cloth, soon shifted North
Empire!
Cheap energy helped
4
Q
prior to in rev…
A
3 Malthusian diagrams, IHET stuff
5
Q
Why are ideas important
A
Mokyr the accumulation of knowledge, specialistaion, professionalistaion expertisation the only cause of growth.
Lever micro vs macro inventions
with developments of coal and steam power avstract maths/physics slowly became more useful but it took years to pay off. Scchumpeters creative destructiom the only way to escape the steady state.
6
Q
Why did Britain have so many ideas…
A
Sceptisism falling access costs rise of scientific methods, culture of doubt and ratioanlity post environment political fragmentation glorious revolution
