In your own words summarise Hobsbawm’s (1999) account of the origins of the Industrial revolution in the late eighteenth century Britain. Then use your own words outline the different explanation of McKendrick (1982) as to the origins of the industrial revolution.
“Whoever says Industrial Revolution says Cotton” (Hobsbawm, 1999, p34) Hobsbawm sets out his account on the origins of the industrial revolution by stating that if a person was to look at the history of the industrial revolution then they would see that the cotton industry helped the industrial revolution take place .
First Hobsbawms explains that the industrial revolution was not just an acceleration of economic growth but was an acceleration of economic growth because of economic and social transformation in the UK. He then explains that the Industrial revolution had to originate in a capitalist economy because the economic and social transformation that took place was due to people and the governments greed for profits. Since the industrial revolution happened first in Britain, Hobsbawm states that the origin of the industrial revolution cannot be explained by factors like the UK imitating advanced techniques, import of capital and also having been affected by an already industrialised economy .
Hobsbawm then explained that if an industrial revolution was to occur in the world then it would be in a European city. However Hobsbawm stated that the UK was the most prepared for an industrial revolution because the UK economy had around 200 years of steady economic development. This provided a foundation for rapid economic growth .
Hobsbawm then explains that the UK during the 18th century had other preconditions as well to start an industrial revolution. The UK was able to transfer peasants from non industrial to industrial jobs easily; there was a sufficient size of investment available to invest in industrial equipment. Also there were a lot of men with money who were willing to invest in...