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US-Britain industrial power - Essay Example

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The Britain remained evidently predominant in the nineteenth century among the world powers as consequence of tremendous economic and industrial expansion in the eighteenth century. The British firms had expanded and export trade boomed vigorously in the industrial revolution…
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US-Britain industrial power

Download file to see previous pages... The Britain remained evidently predominant in the nineteenth century among the world powers as consequence of tremendous economic and industrial expansion in the eighteenth century. The British firms had expanded and export trade boomed vigorously in the industrial revolution.This paper investigates into the reasons that enabled the United States to replace the Britain as the world's leading industrial power after the time when Britain used to dominate the world with its industrial strength. Evidently, there happened to be several causes underlying the sharp decline in the British dominance among all the powerful countries in the world. In the same manner, there were various reasons that served to be the supporting elements for the economy and industry of United States to supersede the position of Britain.Apparently there happened to be abounding reasons behind the deterioration of British industrial and economic power in the late nineteenth century. Britain's economic diminution was in fact a consequence of the decline in the country's industrial potency that happened to be the backbone of the country's growth in the eighteenth century. However, this industrial failure did not erupt out of nothing, rather it too was an aftermath of several factors and events responsible for undermining the British industrial ascendance in the world.One of the pre-eminent causes of the failure of British industrial power was also the country's technical training and education system. The country, due to its highly advanced technical training system, produced and accumulated a large number of trained and high calibre workers for some industries. This turned out to be negative for various industrial sectors in the long run, as the country immensely began to lose unskilled workers that could perform duties on machines in the factory. This problem was faced by most of the industries in Britain, causing them to run high on costs and consequently low on profits.

The British industry also lacked the most substantial ingredient i.e., machine tools required for technological excogitation in the manufacturing sector of the industry. Britain remained far behind on this ground that could have otherwise backed the deteriorating industrial strength of the country. The machine tool industry had been flourishing in the early period of British industrial development but the growth in this industry came to a gradual halt in the early twentieth century. This backwardness marked the inability of British industry to cope with the technological prerequisites of that era and the country seriously lacked behind on the technological edge.

Another significant factors underlying the fall of British dominance was also that it seriously lagged on the ground of export in the late nineteenth century as compared to United States. The growth in export witnessed in the earlier decades started to tumble down and imports, on the contrary, took on a rising trend. At this time, most prominently, the United States was advancing in export trade through technological advancement and thus started to captivate even the portions of markets in Britain. This had a severe impact on the British economy and thus it started to lose dominance over other countries. This happened primarily because the Britain failed to advance in terms of new technology and as a result, the country's export trade started to decline.

Free trade policies inflicted serious harms to the British industrial expansion. The country perpetually adopted the free trade policy enhancing the free flow of imported goods into the market without any restriction. This resulted in an outbreak of international ...Download file to see next pagesRead More
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