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Lessons from the original Industrial Revolution
  + stars: | 2023-06-09 | by ( Edward Chancellor | ) www.reuters.com   time to read: +7 min
These are brilliantly described by Martin Hutchinson, a former Breakingviews columnist, in his new book “Forging Modernity: Why and How Britain Developed the Industrial Revolution”. In fact, several pioneers of the Industrial Revolution were self-taught. The Industrial Revolution can be viewed as the world’s first successful energy transition. The task of financing the Industrial Revolution fell to banks that were scattered across the country, some 800 in all. We are so accustomed to the economic growth sparked by the Industrial Revolution that we tend to view economic expansion as pretty much inevitable.
Persons: Martin Hutchinson, King Charles I, Charles, Duke, Bridgewater, Hutchinson, Josiah Wedgwood, Trent, Samuel, Richard, Adam Smith, William Pitt the Younger, Lord Liverpool, Smith, , , Adam Smith’s, Peter Thal Larsen, Oliver Taslic Organizations: Reuters, Royal Society, Industrial, Nations, Reuters Graphics Reuters, Government, Dudley, Thomson Locations: Britain, England, British, Manchester, Birmingham, Bridgewater, Mersey, Samuel Whitbread’s, West Indies, Netherlands, United Kingdom
University of Cambridge says it gained from slave trade
  + stars: | 2022-09-22 | by ( ) www.nbcnews.com   time to read: +4 min
Cambridge said an investigation it commissioned had found no evidence that the university itself ever owned slaves or plantations directly. Those came from university benefactors who had made their money from the slave trade, the university’s investments in companies that participated in it, and fees from plantation-owning families, according to the investigation’s report. Researchers found that fellows from Cambridge colleges were involved with the East India Company, while investors in the Royal African Company also had links to Cambridge — two companies both active in the slave trade. “Such financial involvement both helped to facilitate the slave trade and brought very significant financial benefits to Cambridge,” the Legacies of Enslavement report said. The university said it had also received a donation to commission a Black British artist to memorialize Black Cambridge scholars, and will install explanatory plaques to contextualize older statues of those associated with the slave trade.
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