The impact of the first industrial revolution on the British economy

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The unprecedented industrial revolution that broke out in Britain in the second half of the eighteenth century changed the course of human history. This revolution is not only a technological revolution, but also a great leap forward in social and economic development. It played a major role in the development of the British economy, which enabled the United Kingdom to greatly improve its status in the world economy and became the hegemon of the world economy at that time. This article makes a superficial analysis of the impact of the first industrial revolution on the British economy.

  1. Urbanization has promoted the development of the British economy

Urbanization refers to the change in the place of residence of the population, that is, from rural residents to urban residents, the migration of population to cities caused by industrialization, and the process of population concentration caused by the “aggregation benefits” of industry. The…

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