Industrial revolution Quote by Edward A. Hudson
““virtually the entire improvement in output per worker in Britain in the first century of the Industrial Revolution was due to improvement in productivity. It is likely that most of this productivity advance was embodied in capital.””
About This Quote
Source Book: Economic History of Britain, Edward A. Hudson, 1995
Productivity gains in early industrial Britain came mainly from better capital equipment, not from workers themselves.
In simple terms: Capital improvements drove output growth.
Invest in better tools and machines.
Themes
Mood
Type
When to use this quote
- factory upgrades
- technology adoption
- skill training
- policy planning
Key Concepts
Questions to Reflect On
- How can modern economies balance capital investment with workforce development?
- What policies ensure capital upgrades benefit all workers?
Neglects the role of labor organization and human capital development.