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Discuss the reasons that led to the rise of merchant and industrial capital in Europe

Discuss the reasons that led to the rise of merchant and industrial capital in Europe

Answers

Faith
1) Commerce:
Britain had flourishing merchant capital sectors which availed substantive
profits from local and overseas trade which were invested in industry. During
the 18th century, the lucrative slave, ivory and textile trade was centred in
various locations in Britain e.g. Liverpool. This yielded surplus capital that
facilitated industrialization.
2) By 1850 Britain had a well organized system of banking and insurance.
3) It also had profitable colonies, E. Asia, Africa and Western Europe etc. which
provided her with the required raw materials and markets.
4) Britain had a large, wealthy mercantile capitalist class which provided funds
to develop manufacturing.
5) She had the largest and strongest navy which protected her export
merchandise, colonies and raw material imports.
6) England had vast strategic resources of coal and iron, and these were
important in the steel industry.
7) It had a stable government and had experienced long years of peace with no
custom barriers to restrict free trade.
8) It had a high population growth rate which ensured the availability of labour
and market for industrial goods.
9) By 1860’s Britain had a well developed railway and road transport system
that facilitated the movement of commodities and raw materials.
10) The agrarian revolution between 1750 and 1820 availed adequate food supply
that supported an expanding population.
Titany answered the question on December 8, 2021 at 07:41

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