Question

What did the British Government believe about the amount of wealth in the world during the industrial revolution?

Answer 1

Answer:

Britain enforced the economic system of mercantilism with its colonies. In addition, British-controlled colonies provided a ready- made, steady market for British goods. Government: • Internal trade was encouraged.The government helped build canals, roads and railways.Success in international trade created Britain's high wage, cheap energy economy, and it was the spring board for the Industrial Revolution. High wages and cheap energy created a demand for technology that substituted capital and energy for labour. These incentives operated in many industries.