To block or not: why the British ruling elite enabled the Industrial Revolution during the 18th century

Abstract

This study explores why the ruling elite in 18th-century Britain not only allowed but actively supported industrialization. Economic rents, political power, and international competition are commonly cited as the reasons, but these explanations lack empirical evidence. By conducting a text analysis of parliamentary legislation and debates on the cotton industry, this study demonstrates that the ruling elite was primarily motivated by keeping unemployment low and sustaining the British economy’s international competitiveness. A favorable political system facilitated the realization of the elite’s objectives.