Meditations and Learnings

Meditations and Learnings

How Britain Transitioned from Medieval to a Leading Economy

Nineteenth-century Britain achieved industrialisation ahead of other nations because it established trust in its laws. The consistent application of laws fosters confidence which allows free markets to flourish. A lack of corruption meant that businesses operate with faith in the institutions not to hinder operations, extract bribes, break contracts, or confiscate earnings.

The distinct dependability of the laws attracted investment from throughout continental Europe. The trustworthiness also brought in entrepreneurs and skilled migrants, and the economy flourished as the human capital increased. The imposition of these laws on the colonies inspired immigration from elsewhere. The economies of colonies subsequently benefitted.