November 18 - British government was not interfering but enabling private enterprise Bank of England William of Orange was king but also a

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November 18, 2010 Evolution of Industriousness Development of attitudes among the elite in France and Britain Sustained improvement of productivity in agriculture. Industriousness at household level. Food prices were falling, employers were cutting nominal wages. More of the population has access to a stable household, and enough extra income to buy something like a loom to make more income from home. Increased improvement in agriculture was a result of the elites trying to make themselves look better. Aesthetic and practical improvements. French failure was absolutism Government intervened and prevented progress.
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Unformatted text preview: British government was not interfering, but enabling private enterprise. Bank of England William of Orange was king, but also a financier. He elevated the merchants to put them on a level playing field with the elite. He understood the importance of merchants (they bring goods to consumers). William can’t invade France, but he wants to limit their success. • He used England as a tool to counter the advance of France. As long as he maintains a good credit rating, William can do anything he wants. • He has a freedom of maneuverability....
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This note was uploaded on 11/18/2010 for the course ECO 327 taught by Professor Trinque during the Fall '10 term at University of Texas at Austin.

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November 18 - British government was not interfering but enabling private enterprise Bank of England William of Orange was king but also a

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