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A Pull–Push Theory of Industrial Revolutions

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  • Bernard C. Beaudreau

    (Université Laval)

Abstract

This paper presents a pull–push theory of industrial revolutions. Generalizing from the first industrial revolution in England and the second industrial revolution in the United States, it points to the presence of three necessary conditions, namely (i) the existence of a trigger event which creates (ii) new market opportunities (pull) as well as (iii) new process technologies (push). The result is a novel approach to the underlying cause(s) of industrial revolutions, one that is consistent with both material and non-material views in the literature, as well as with demand-shock and supply-shock views. Furthermore, it is consistent with previous accounts of the 19th-century rise of managerial capitalism. Lastly, it provides a set of necessary conditions for what constitutes an industrial revolution.

Suggested Citation

  • Bernard C. Beaudreau, 2023. "A Pull–Push Theory of Industrial Revolutions," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 29(4), pages 303-317, November.
    • Handle: RePEc:kap:iaecre:v:29:y:2023:i:4:d:10.1007_s11294-023-09883-w
    DOI: 10.1007/s11294-023-09883-w
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    References listed on IDEAS

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    More about this item

    Keywords

    Industrial Revolutions; Technological Change; Demand Factors;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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