Development of the agricultural sector during the British Agricultural Revolution might have set foot for the precondition of the industrial sector during the British Industrial Revolution. This essay will be examining the potential causes for the changes in the agriculture sector that had led to rapid development in the industrial sector and evidence that supports or reject such hypothesis. It is also important to take note that the following essay will define the British Agricultural Revolution as starting from mid-17th century until the 19th century and the British Industrial Revolution from 1760s to 1840s. One of the most important development during the Agricultural Revolution is the introduction of the Norfolk four-course rotation which
…show more content…
Capital that was previously tied in the agriculture sector could be released into the industry once food supply reached a sustainable level. Farming transformed into an activity of commercial value rather than for self-sufficient. Farmers will now be competing against one another which reduces inefficiency and produces a higher income that could be converted into savings. However, gross investment only rose from 6% of GDP in 1760 to 12% in 1840 as shown by Allen (2005, p2), indicating more towards a change in technological advances during the Industrial Revolution that led to higher investment rate rather than agricultural sector that contributes to higher investment …show more content…
Enclosure Act for instance had led to a stronger property rights among the people in the U.K. With excess labour available in the market and higher wages that were gained by the farmers, barriers to entry were successfully lowered and thus investors started to enter the industrial sector. With most of the empirical evidence coinciding with the time period where agricultural revolution and the British Industrial Revolution transit, it is to be concluded that the development in the agricultural sector has affected the development in the industrial sector during the British Industrial
Capital that was previously tied in the agriculture sector could be released into the industry once food supply reached a sustainable level. Farming transformed into an activity of commercial value rather than for self-sufficient. Farmers will now be competing against one another which reduces inefficiency and produces a higher income that could be converted into savings. However, gross investment only rose from 6% of GDP in 1760 to 12% in 1840 as shown by Allen (2005, p2), indicating more towards a change in technological advances during the Industrial Revolution that led to higher investment rate rather than agricultural sector that contributes to higher investment …show more content…
Enclosure Act for instance had led to a stronger property rights among the people in the U.K. With excess labour available in the market and higher wages that were gained by the farmers, barriers to entry were successfully lowered and thus investors started to enter the industrial sector. With most of the empirical evidence coinciding with the time period where agricultural revolution and the British Industrial Revolution transit, it is to be concluded that the development in the agricultural sector has affected the development in the industrial sector during the British Industrial