An Appraisal on the Economic stability in Britain, West Europe and United Kingdom
After becoming one of the prosperous economic regions in Europe between 1600 and 1700, Britain dominated the European and world economy during the 19th century. It was the major innovator in machinery such as steam engines (for pumps, factories, railways locomotives and steamships) textile equipment, and tool making. It invented the railway system and built much of the equipment used by other nations. Between 1870 and 1900, economic output per head of population in Britain and Ireland rose by 500% percent, generating a significant rise in living standards. During 1500-1700 periods many fundamental economic changes occurred, which paved the way to the industrial revolution. Especially after 1600, the United Kingdom took over the role of the leading economic region of Europe from the Mediterranean nations. The fundamental difference lay in the mainly privately owned enterprises in Great Britain in contrast to the arguably less successful state owned economic system in the Mediterranean.
EXPORTS- Especially within the Britain empire exports started to increase heavily in this period. Mostly privately owned companies traded with the colonies in the West Indies, Northern American and Indian.
WOOL INDUSTRIES- woolen clothe was the chief export and must important employer after agriculture. The golden era of the Wiltshire woolen industries was in the reign of Henry Viii.
DIETS- the diets depended largely on social class. The rich ate meat – beef, pork. Fruit and vegetables were seldom eaten. Both the rich and poor had diets with nutritional deficiency. Trade and industry flourished in the 16th century making England more prosperous and improving th