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Classical economists

Industrial Revolution

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European History
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Classical economists
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Industrial revolution Started in Britain because: Easy access to raw materials Agricultural Revolution entrepreneurship very stable economy Had a strong bank Has large colonial system Enclosure movement Poor had to find another way to feed family Mining and Forging Coal is more powerful than water Iron is stronger and more powerful than wood Innovations make steel feasible Bessemer process- strong flexible steel. England becomes heavily reliant on coal Richard Arkwright: ?Pioneer of the Factory System? First millionaire Invented the water frame Industrialization Starts in the textile industry 1851 Crystal Palace exhibition For the British worlds fair The 19th c Bourgeoisie The industrial Nouveau Riche Worked for their money by investing New money
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