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XU Bin: The Causes of Industrial Revolution and Modern Economic Growth: Relevant Historical Interpretations over the Past Two Decades
December 23, 2021  

Abstract

To reach a consensus on the causes for the Industrial Revolution in England has long been a goal among many scholars. In more recent years, a number of new perspectives have been developed. Previously,the study was heavily influenced by economic theory because the Industrial Revolution was first and foremost an economic transformation in human history. From the end of the 20th century to today, three theories in the field of economics, endogenous growth theory, new institutional economics and unified growth theory, have made marked progress, exerting a broad influence in the historical study of the Industrial Revolution. Since 2005 they have gained even more influence; many historical studies have followed their guidance. The scholars who worked on the endogenous growth theory focus on how technical innovation was facilitated by the change of economic factors, whereas those who followed the new institutional theory emphasize the role of property and political systems. There have also been others who advocated the unified growth theory and pay close attention to the relationship between population and income, human capital investment, and technical innovation. As of today, more and various explorations are continuously being made and debated, all aimed to further improve our understanding of the Industrial Revolution.

Published on Historiography Bimonthly, Issue 1, 2018.


   

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