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In what ways did the British state help or hinder the British Industrial …
In what ways did the British state help or hinder the British Industrial
Revolution?
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Colonialialism + salvery
Institutions
Property rights
Democracy
Free Markets
Agricultural Change
Privatisation of land
Creation of the working class
Financial revolution
Central Bank
Free market
More borrowing for the government
Public goods
Transport
Defense
Hinder
Religion?
Abolished slavery
Effects of the State
Free market
Institutions
Increased democracy
^Government checks and constraints
^Property rights
^Support for free market activity
^Rights of gov lenders
^Incentive for investment
^Private ownerwhip
Low Confiscatory taxes
Policy shift from Mercantilism to Adam Smith
Public goods
Underprovided Healthcare and education
Low human capital
Education was provided accordingly when demand for educated workers emerged
Provided defense
Military success
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Private investment crowding out
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Provided Transport system
^D for steel
Lower production costs
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Parliamentary control and fiscal centralisation
More efficient fiscal system
^Tax collection
^Gov budget
Monetary policy
Establishment of Bank of England
^Gov credits
Flexible monetary policy
Lower market volatility
Fiscal capacity
British Industrial Revolution
Technology
Entrepreneurship