To a large extent the Atlantic World economic system was fundamental in causing or at least accelerating the British Industrial Revolution. However, there were other elements that contributed to the Atlantic World economic system’s success.
The Industrial Revolution was a time of great economic prosperity and technological advancement in Europe. Between 1550 and 1850, Britain made a shift from a mainly agrarian subsistent economy to an urbanised, large-scale mechanised manufacturing one. The Atlantic World economic system is a term used by Joseph Inikori to explain the triangular trade between Western Europe, Western Africa and the Americas through the Atlantic Ocean.
There was a massive shift in the regional structure of manufacturing and wealth in England by the late seventeenth century. The Southern states, which relied heavily on trade with other Western European countries, had stagnated and the demand for goods, particularly woolen textiles, had declined from £1.5 million to £1 million due to these countries developing their own industries. In contrast parts of the North, which had previously been backward and vastly underdeveloped, were now thriving and it is there that the Industrial Revolution began. The Lancashire textile industry was a primary example of economic success. Unlike the Southern states, the North had become considerably involved in the Atlantic trade. By this time America was supplying more than three-quarters of all imports mainly due to the ability of keeping unit cost of production low. This meant large-scale production with a large, inexpensive labour force was required; forced labour, therefore was the only viable option. These factors reduced the price per pound of raw cotton from 16¼ pence to...
... middle of paper ...
...pment of coal and steam based energy developed largely autonomously from the Atlantic system and the Industrial Revolution would have most likely begun without the Atlantic trade system even if slavery had been abolished two centuries earlier than when it had been. However, development of these technologies was most likely a result of an influx in demand for manufactured goods and the increased availability of cheap raw materials, made possible by slave labour. The need for these inventions may therefore have been unnecessary if it were not for the Atlantic trade system.
Based on my above-mentioned argument, it is evident that the Atlantic World Economic system played a vital role in causing the British Industrial Revolution. Although it is likely that it may have happened without the Atlantic trade it is unlikely it would have happened at the same pace or level.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- The Triumphs and Tribulations of the Development of the Atlantic Trade The inception and continuance of the Atlantic trade marked the most principal aspect of the Age of Exploration that helped create the world and society of the present day. Vastly spanning from the ports of London to the coastlines of West Africa and Brazil, the Atlantic trade route created trading relationships that still has an impact on how countries today trade. The devolvement of the Atlantic trade forever changed and impacted each area under its realm of influence.... [tags: Africa, West Africa, Atlantic slave trade, Slavery]
1225 words (3.5 pages)
- Overview How did the Atlantic System affect Europe, Africa, and the Americas. (The Earth and Its Peoples, 500) The movement of goods, people, and wealth in the late 17th and 18th centuries permanently changed societies across the continents of Europe, Africa, and North and South America, thereby increasing the reach of globalization in the modern age. Most influential to this movement was what is sometimes referred to as “The Atlantic Circuit”, a triangle of trade between Western Europe, western Africa, and the West Indies.... [tags: Economics]
1043 words (3 pages)
- Colliding Worlds When trade between different cultures, and different countries, began to grow in popularity, it caused these diverse cultures, such as the Europeans and Native Americans, to interact with one another. These interactions had some positive effects, like economic growth for both ends of the traders, and some negative effects, like colonization. Trade was the best of times, but it was also the worst of times for some. Each culture was very diverse. Sometimes, when a few very different elements combine, there is some conflict.... [tags: United States]
1394 words (4 pages)
- New consumption patterns triggered a demand for rare commodities, capitalist pursuing wealth from its production set forth a contemporary reorganization of labor designed around reducing production costs by exploiting others of a certain “lesser” class. So why then were Africans chosen to be the exclusive source for slave labor in the New World. Just about everyone played a part, African slavery supported the interests of an amalgamation of groups: plantation owners, traders, consumers, and political heads.... [tags: Atlantic slave trade, Slavery, History of slavery]
957 words (2.7 pages)
- When the Atlantic slave trade began in the 16th century, a new era of agriculture, trade, economic strength, and discrimination began. It touched lives of many millions of people in both positive and negative ways. Through the slaves, the plantation owners were able to increase their work rate and their income to build stronger economies for their home countries. The slaves themselves were emotionally traumatized when they were separated from their families to work for cruel owners and as many of their own peoples died next to them.... [tags: economic development of Europe and Americas]
543 words (1.6 pages)
- In most cases, the North Atlantic Treaty Organization, also known as NATO, is often described as the most successful military alliance in history. NATO consists of twenty-eight members who are mainly in Europe and North America. NATO’s main objectives that kept their longevity consists of the Alliance’s role in protecting the freedom and guaranteeing the peace within the alliance and the rest of the world. With such alliances, NATO is described by Harlan Cleveland as a “transatlantic Bargain”, which is “a helpful prism through which to analyze the North Atlantic Alliance” (Sloan, 2010).... [tags: Cold War, NATO, World War II, United States]
1298 words (3.7 pages)
- The North Atlantic Treaty Organisation or NATO was established in 1949 with the aim to provide security to its members against the Soviet Union. However, with the end of Cold war and subsequent disintegration of Soviet Union, NATO’s raison de’tre came into question. While some IR theories spelt doomsday for NATO, others hoped that it can sustain by adapting itself and riding on the ‘collective identity’ it created within the alliance. NATO not only sustained but also expanded its scope of operations and memberships post the Cold war.... [tags: Cold War, NATO, World War II, United States]
1405 words (4 pages)
- The European economic system of mercantilism perhaps shaped the modern world more than any other factor to date. Countries who followed mercantilism sought to have an advantage over its competitors by having colonies and a steady flow of money and resources. Whilst the colonies grew poorer the mother country grew richer. European Consumerism and greed is a major driving factor as to why they colonized other parts of the world, and although it seemed like a great idea to the European countries it caused the destruction and downfall of many unique civilizations and cultures around the world.... [tags: Caribbean, Atlantic slave trade, Africa, Slavery]
711 words (2 pages)
- The annual hunt of harp seals (Pagophilus groenlandicus) in Atlantic Canada is contested at the start of nearly every season, with celebrities, politicians, and the public actively weighing in on the matter. Within all of the dialogue and debate, there can be a lot of bias and misrepresentation of facts advocating for or against the seal hunt. Thus, the true sustainable aspects of the industry are drowned out and lost due to the sheer amount of controversy surrounding the issue. Sustainability entails meeting the needs of today without sacrificing the needs of the future (“Sustainable Development” 1).... [tags: Environmental Issues]
1638 words (4.7 pages)
- Atlantic Charter The United States would not enter the war until after the Japanese attack on Pearl Harbor in December 1941. But by the spring of 1941 Congress had approved the Lend Lease program, and the aid Roosevelt had promised at Charlottesville had begun to flow to Great Britain, where Winston Churchill was now prime minister. In July 1941, Roosevelt and Churchill met for the first time in Argentia Bay off Newfoundland, to issue a joint declaration on the purposes of the war against fascism.... [tags: Papers]
537 words (1.5 pages)