ECN 110A Lecture Notes - Lecture 16: Economic Inequality
Last Week Day 1
• Coal mining led to the development of the rail road
o Because a lot of coal had to get moved out from the coal mines to places they
would actually be needed for use created the need for the railroad industry
o The first rail roads were developed in the coal mines of England
• Iron and Steel used to be created by burning wood
• Britain ran out of wood by the time the Industrial Revolution started
o Britain got lucky that there was a lot of coal underground and they soon found
out how to use coal to produce Iron and steel at a much more massive rate than
they used to
• A lot of inventors had horrible lives because they created innovations that made people
lose jobs on a massive scale
o Despite royal sponsorship and royal promotion, a lot of machines did not gain
popularity as a whole because although productivity increased, people did not
want to lose their jobs
• Britain was the starting point and these inventions later spread to other parts of Europe
o Some inventions did not catch popularity immediately so they had to be
reintroduced to countries such as France later on during the Industrial
Revolution
• Britain eventually was able to exploit other nations around the world because they
industrialized extremely fast and this led to a colonial empire
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