Example Of Research Paper On Economic Development
This paper is a research essay on the topic of Economic Development in great Britain. Economic development took place in various phases included industrialization, colonial economic integration and lastly, the phase which we are in today; globalization. We will analyze literature on Economic Development in Britain through work of Darwin, Burton and Bush. We will discuss the evolution of economic development from industrialization to globalization through the help of their research. The thesis for this would the growth in Britain through the phases of economic development.
The tradition of British domestic historiography and British imperial has been integrated in history. The work of John Darwin, The Empire Project published by Cambridge University Press discusses the rise and fall of the British Empire, highlighting the economic development process throughout. The British system has operated independently and is not formed on a structure of global hegemony. In the 18th century, Britain went through the phase of industrialization and during 19th century it gained a dominant role in global economy. Britain always faced an economic challenge from United States and Germany and the economy was weaken by the overbearing costs of World War 1 and World War 2. The industrial revolution is said to have begun in Great Britain which further spread to Western Europe and United State of America.
According to the economist, Eric Hobsbawm, the industrial revolution broke out in Britain in 1700s and reached peak in 1830s and 1840s while another economist, T. S Ashton believes it took place between 1760 and 1830. After industrialization in Britain, the process expanded to Europe.
The Industrial Revolution on Continental Europe came a bit later than in Great Britain. In numerous commercial enterprises, this included the application of engineering created in Britain in new places. Regularly the innovation was obtained from Britain or British architects and business visionaries moved to another country looking for new open doors. By 1809, a piece of the Ruhr Valley in Westphalia was called 'Smaller than expected England' on account of its likenesses to the mechanical regions of England. The German, Russian and Belgian governments all gave state subsidizing to the new commercial ventures. Now and again, (for example, press), the distinctive accessibility of assets by regional standards implied that just a few parts of the British innovation were received.
Belgium was the second nation, after Britain, in which the mechanical upheaval occurred and the first in mainland Europe: Wallonia (French talking southern Belgium) was the first area to take after the British display effectively. Beginning amidst the 1820s, and particularly after Belgium turned into a free country in 1830, various works embodying coke impact heaters and puddling and moving factories were implicit the coal mining territories around Liège and Charleroi. The pioneer was a transplanted Englishman John Cockerill. His industrial facilities at Seraing incorporated all phases of generation, from designing to the supply of crude materials, as ahead of schedule as 1825.
Wallonia exemplified the radical advancement of modern development. On account of coal (the French word "houille" was instituted in Wallonia), the area equipped to turn into the second mechanical power on the planet after Britain. However it is likewise brought up by numerous scientists, with its Sillon industriel, 'Particularly in the Haine, Sambre and Meuse valleys, between the Borinage and Liège, there was a tremendous modern improvement focused around coal-mining and iron-making. Philippe Raxhon expounded on the period after 1830: "It was not publicity yet a reality the Walloon areas were turning into the second mechanical power everywhere throughout the world after Britain. The sole modern focus outside the collieries and impact heaters of Walloon was the old material making town of Ghent. Michel De Coster, Professor at the Université de Liège composed additionally: "The antiquarians and the economists say that Belgium was the second mechanical force of the world, in extent to its populace and its region. But this rank is the one of Wallonia where the coal-mines, the impact heaters, the iron and zinc production lines, the downy industry, the glass industry, the weapons industry were concentrated.
There has been sufficient research in the economic literature about schooling and education on economic growth. Different approaches have been used to prove the connection. World went through a revolution in the last century with a lot of credit given to the e-world. Education is the single most important factor for human development. It not only promoted informed citizenry but also promotes productivity and creates numerous opportunities for people who are social and economically underprivileged.
First of all, we will discuss industrialization. Everyone would agree that human capital is the basis for economic growth and development. The industrial revolution has been the most significant era of growth. Economists have divided human capital into two categories; people who had impact industrial revolution and people who didn’t as primary enrolment in the cradle of industrialization known as Britain was only 11% at time of revolution. It can be said that upper tail knowledge is more of a human capital which drives industrialization. Workers boost productivity by using the primary education and the same technologies. Education therefore still had important role to play in industrialization. This is why one of the top most priorities for low income countries is to aim for the path of robust growth by investing in education as it leads to economic development. Other factors like health, infrastructure and others have their own importance, but we will focus our discussion one education. The inequality of education leads to poverty traps and policy of low income countries is to limit that inequality.
In addition, social and work strategy needs to be adjusted to the specific needs and qualities of low wage economies. This obliges a significant reexamining of what is achievable in such connections: transplanting entrenched models from high to low salary economies is unrealistic to work.
After the research and the basic thesis, we can conclude that for economic development, history has been a witness for importance how Great Britain has been central for the global economic development. From industrialization, to colonial setup to globalization today, everything is generated from the Britain territory. It is concluded that Britain has played a great role in economic development of the world, from industrialization to globalization of the entire world. The work from Darwin, Burton and Bush also highlight the imperialism and colonialism through which Britain had an impact on the world. It left a major mark in the subcontinent, which was known as Indian Continent and major colonial’s setup were done after the foot mark of the British Empire.
Burton, Antoinette. "Rules of thumb: British history and ‘imperitwentieth-century Britainal culture’ in nineteenth and ." Women's History Review (1994): 483-501.
Bush, Barbara. "Untangling Imperialsim; theories, concepts and historiography." Bush, Barbara. Imperialism and Colonialism. Pearson, n.d. 42-76.
Darwin, John. The Empire Project. Cambridge University Press, n.d.
Hanushek, Eric. The Role of Education Quality for Economic Growth. Washington: World Bank, 2007.
S.H. "Education and industrialisation." 8 July 2014. The Economist. 16 January 2015 <http://www.economist.com/blogs/freeexchange/2014/07/education-and-industrialisation>.
Todaro, Michael. Economic Development. New York: LongMan, 1994.
Please remember that this paper is open-access and other students can use it too.
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