Power point II. The Industrial Revolution II. The Spread of the Industrial Revolution across the Globe: Convergence dynamics and the Standard Model



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POWER POINT 7
1 POWER POINT INTRO
Other aspects of Allen’s story
Market size may well matter as well (Crafts 2010). The small size of the American market could explain why the spinning jenny was not adopted there despite being profitable.
Little evidence that technological progress exhibited a labour-saving bias (Mokyr 2002).
Evidence from patents (MacLeod 1988) suggests that, even at the end of the eighteenth century, only 21 per cent of inventions was intended to save labour.
• Allen’s argument could more appropriately be seen as complementary to Mokyr’s claims. The Industrial Revolution resulted from a combination of factors on both the supply and demand side of the market of innovation (Crafts 2010).
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