2009/11/23 by Robert C. Allen · 4 citations
Economics, Econometrics and Finance · Social Sciences · #Historical Economic and Social Studies #Political Economy and Marxism #Economic Theory and Policy #Industrial Revolution #Capital (architecture) #Economic history #Economics #Economy #Agricultural economics #Political science #History #Ancient history #Law
paper · doi:10.1017/s0022050709001326
openalex publication_date 2009/11/23 · openalex created_date 2025/10/10 · openalex updated_date 2026/05/21
The spinning jenny helps explain why the Industrial Revolution occurred in Britain rather than in France or India. Wages were exceptionally high relative to capital prices in Britain, so the jenny was profitable to use in Britain but not elsewhere. Since it was only profitable to use the jenny in Britain, that was the only country where it as worth incurring the costs of developing it. Irrespective of the quality of their institutions or the progressiveness of their cultures, neither the French nor the Indians would have found it profitable to mechanize cotton production in the eighteenth century.