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- W4200207306 abstract "The article discusses the economic consequences of Britain’s wars with France in the period 1793-1815. It seeks to answer two questions: Why did this warfare not substantially depress growth of GDP? and, What may have been its positive legacies and spinoffs for Britain’s economy? It argues that the costs of recruiting a substantial part of Britain’s labour force were fairly low as the manpower used by the armed forces to a considerable amount consisted of under-employed and unskilled labour. Changes in fiscal, financial and monetary policies financed the wars without crowding out investment in the wider economy. Agriculture responded positively to rising prices and managed to feed the growing population. Major industries — including the iron, coal, cotton and armament industries — built up new capacities in the hothouse conditions of the wartime economy. The upswing in expenditure and investment by the state helped to create favorable (geo)political conditions and prospects for expanding the export of services and commodities. In the long term, the outcome of the wars was a situation in which Britannia ruled the waves and retained large profits from building and supplying ships, shipping, marine insurance, banking, commercial, and entrepôt services for the rest of the world." @default.
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- W4200207306 date "2022-02-18" @default.
- W4200207306 modified "2023-09-24" @default.
- W4200207306 title "Britain’s Wars with France 1793–1815 and Their Contribution to the Consolidation of Its Industrial Revolution" @default.
- W4200207306 doi "https://doi.org/10.1163/9789004472754_003" @default.
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