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Discuss the theory of entrepreneurial failure between 1870 and 1914. Were the criticisms of entrepreneurs fair?
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Edward Wingate 02-12-03 Economic History D Jenkins Discuss the theory of entrepreneurial failure between 1870 and 1914. Were the criticisms of entrepreneurs fair? The late decades of the 19th century, were viewed by many as an absolute contrast to the preceding 'Industrial Revolution'. Widespread agreement was that the 'Industrial Revolution' was a time of great prosperity for Britain, as it dominated World trade and was christened the 'Workshop of the World'. However, this statement was not the accurate representation of Britain at the time that many viewed it as. Britain's range of exports was far too narrow to sustain success as other countries industrialised around it, rapidly becoming more competitive overseas. This boom abroad and many factors contributed to result in what was thought of as a downturn in the British economy in the late 19th century - 'The Great Depression'. This short essay will focus on a single potential reason for this poor performance, as...
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