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The Industrial Revolution

In: Handbook of Economic Growth

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  • Clark, Gregory

Abstract

The Industrial Revolution decisively changed economywide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This paper seeks to set out the empirical parameters of the Industrial Revolution that any economic theory must encompass, and illustrate why this makes explaining the Industrial Revolution so difficult within the context of standard economic models and narratives.

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This chapter was published in:

  • Philippe Aghion & Steven Durlauf (ed.), 2013. "Handbook of Economic Growth," Handbook of Economic Growth, Elsevier, edition 1, volume 2, number 2, December.
    This item is provided by Elsevier in its series Handbook of Economic Growth with number 2-217.

    Handle: RePEc:eee:grochp:2-217

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