The Glorious Revolution and the causes of the industrial revolution
8 hours ago
- #industrial revolution
- #property rights
- #historical reform
- The Glorious Revolution of 1688 in England transferred power from the monarchy to Parliament, enabling legal reforms that untangled rigid property rights and spurred economic growth.
- Post-revolution legislative productivity increased dramatically, with Parliament passing enclosure acts that consolidated fragmented farmland, improved agricultural yields, and facilitated infrastructure investments.
- Parliament addressed restrictive inheritance laws (e.g., strict settlements and entails) through estate acts, allowing landowners to modernize property use, which supported industrial and urban development.
- Infrastructure improvements, such as turnpike trusts and canal projects, drastically reduced transport costs, enabled regional specialization, and expanded markets, laying groundwork for the Industrial Revolution.
- The reforms succeeded by working with landowners, requiring supermajority support for changes, and ensuring broad benefits, contrasting with top-down approaches in other European nations that faced resistance.
- Modern parallels exist in 'vetocracy' and entrenched regulatory systems; similar collaborative, supermajority-based approaches in housing and land use (e.g., in East Asia and Israel) show the enduring relevance of these methods.