One of the pivotal moments in human history was the Industrial Revolution. Industrial development has occurred, and the economy has grown significantly since the 16th century. Significant discoveries during this time originated in Britain (Allen 357). Historians have proposed many reasons why the events originated in Britain. Following industrialization in the middle of the eighteenth century, the economic influence was based on the interaction of market forces and national demography.
The demographics of England served as the source of the labor supply necessary for the inventions’ success. In fact, without a sufficient supply of labor, no invention would have been possible. The availability of labor, however, had the opposite effect on the country’s development. The labor cost was very high at the time compared to other nations, like China, where labor was in plentiful supply. Despite England’s growing population, the labor cost remained the same as one might anticipate. The need for capital and energy substitutes was fueled by the high cost of labor, providing an economic reason for the development of technology (Allen 358). The steam engine, the spinning jenny, and coke smelting were among the significant inventions made at the time. The industrial revolution’s foundation was built on the demand for new technology.
The economic success of England made it possible for technological inventions to be successful. The nation needed the economic power to innovate to ensure the demand and supply for technology was possible.