The Economic Underpinnings of the First Industrial Revolution in England The manufacture of military munitions and the development of a home market were critical underpinnings of the first industrial revolution in Britain. Military manufacturing supported by the British Government contributed directly to technological innovation and spurred industrialization. This is because the companies that choose to fulfill the government contracts to make military munitions found money could be made if new processes and technology was developed to fulfill the huge contracts. Military manufacturing was one of the few industries where innovation was rewarded. In most other industries conservative investors were reluctant to invest in new manufactur....

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Number Of Words: 463

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