Book Description

"The period of British economic history covered in these pages is that of Britain's transition from a primarily agricultural and commercial economy to a modern industrial state whose supremacy rested on her world-wide shipping and credit agencies and mutually advantageous relations with her dependent empire. At the end of this period, Britain as a pioneer of the world industrial revolution had given place to Britain, the world's banker, trader, and collier, in competition with other nations whom she had materially helped along that same way. In view of the efforts of developing nations today, the manner in which this first transition was managed becomes of particular import. Professor Chambers' admirably balanced summary touches on every important aspect of the change which 'involved the community in a simultaneous creation of new forms of industry and transport and in an immense effort in agriculture and building... (and) placed new strains on a social and political system which had to reconcile the demand for increased output with the dawning awareness on the part of labour that industrialization held the key to economic advance for all and not only for the privileged few.' Both text and bibliography have been completely revised for this new edition." - Back cover.