Lecture 41: Breakthrough—The Industrial Revolution
By the early 19th century, innovation was raising productivity in many
sectors of manufacturing, including textiles, coal, and metals; building; and
consumer goods. Between 1770 and 1830, the value of cotton production
in Britain rose over 40 times, that of coal production almost 9 times, that of
iron production about 5 times, and that of building by more than 11 times.The English Industrial Revolution provides a good illustration of the
model of innovation proposed in Lecture Thirty-One. It suggests that once
societies emerged that were highly commercialized, capitalistic in their
social structures, and well-connected to global markets, new incentives
would stimulate innovation. But the innovations themselves were also
important, above all the discovery of a massive new energy source: fossil
fuels. The steam engine, followed by technologies that exploited oil and
natural gas, allowed humans to tap into the vast reserves of fossilized
energy that had been laid down over several hundred million years. Before
the steam engine, the most powerful prime mover available was probably
a windmill, which could deliver about 9 horsepower. Watt’s steam engine
delivered 134 horsepower.Putting steam power on wheels in the early 19th century revolutionized land
transportation and slashed transportation costs.© Brand X Pictures/Thinkstock.