Preet Singh

29%
Flag icon
A big puzzle in economic history, for instance, is why the Industrial Revolution was British, rather than, say, French or German. Robert Allen, an economic historian, thinks relative costs are responsible: at the time, the wages paid to British workers were much higher than elsewhere, while British energy prices were very low. Installing new machines that saved on labour and used readily available cheap fuel thus made economic sense in Britain, whereas it did not in other countries.
A World Without Work: Technology, Automation and How We Should Respond
Rate this book
Clear rating