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25. Economic and political development of Britain 19 century.

Britain led the industrial revolution and dominated the European and world economy during the 19th century. It was the major innovator in machinery such as steam engines (for pumps, factories, railway locomotives and steamships), textile equipment, and tool-making. It invented the railway system and built much of the equipment used by other nations. As well it was a leader in international and domestic banking, entrepreneurship, and trade. It built a global British Empire. After 1840 it abandoned mercantilism and practised "free trade," with no tariffs or quotas or restrictions. The powerful Royal Navy protected its global holdings, while its legal system provided a system for resolving disputes inexpensively. Between 1870 and 2000, economic output per head of population in Britain rose by 500 per cent, generating a significant rise in living standards. However, from the late 19th century onwards Britain experienced a relative economic decline.

 

The Reform Act of 1867, which  reduced the property qualification for eligibility to vote in British parliamentary elections, was one of the major steps which, in the course of the nineteenth century, led Britain from a governmental system to democracy. The Reform Act of 1867 is notable  as a major step in the evolution of the unwritten British constitution, but also as an exemplar of the workings and development of British parliamentary government in the second half of the nineteenth century.


20.06.2014; 00:48
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