Joel Mokyr's Theory Of The Industrial Revolution

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Nowadays the problem of defining basic reasons of the industrial revolution in Britain attracts the attention of more and more scientists all over the world. If we could understand what institutions and conditions influenced and provided the economic growth in 17 – 18 centuries, we would answer some questions. The first question: how can we solve the problem of hunger and poverty all over the world? The second question: what should we do when our resources would end? It is obviously, we should create new opportunities for generating energy. But what? The third question is about democracy: do democratic institutions hinder or promote economic growth? Indeed, in the 17th century, the establishment of democratic institutions has pushed the process…show more content…
He suggests that the process of enclosure, which was one of the factors of the industrial revolution cannot be considered as the process of establishment of the institution of private property. Moreover, for example, in France property rights has been developed better, but the revolution happened in England. In France it was not profitable to invent a steam engine, not because there were bad institutions, but because there were bad rates. Another theory, which I explore in my work, it's the Joel Mokyr’s theory of the industrial revolution. His basic works are The Market for Ideas and the Origins of Economic Growth in Eighteenth Century Europe» , «The Institutional Origins of the Industrial Revolution» , «Useful Knowledge as an Evolving System: the view from Economic history» and others. Joel Mokyr makes methodologically very effective assumption in knowledge. Knowledge can be divided into two types.The first type - "propositional knowledge" or knowledge "that" ("omega"-knowledge; from episteme "science"), relate knowledge or beliefs about natural phenomena and regularities. The second type - "prescriptive knowledge, which can be called the technology" is the knowledge of "how" ("lambda"-knowledge; from techne "art" or…show more content…
Following the theory of the industrial revolution belongs to institutionalists Douglas North and Weingast. The main factor in the industrial revolution they emit the formation of the institution of private property .The authors showed that for long-term economic growth mattered credible commitments. The goal was to show that the restriction of power was important for private property and market development. Visual history was the Glorious revolution of 1688, when the new law became independent, and the Parliament began to take financial decisions, control costs, received the right to establish new taxes. In my literature review, I showed how different factors isolated by the researchers as the cause of the industrial revolution. Conventionally, we can be divided into 2 groups: researchers who believe that the main factor is the formation of institutions, and the second group of researchers focuses on the study of economic performance. The phenomenon of the industrial revolution scientists are exploring for two centuries, but a definitive answer so we could not

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