![]() ![]() However, technical innovation counts for nothing if the machines do not have raw products to process, and the US is struggling to meet the growing demand. A “new class of factory-owning entrepreneurs” extract “massive profits” and “textile revenues” (80), significantly boosting the British economy. Cotton cloth had previously been a hand-woven luxury product but “mechanical innovations and a new division of labor” (80) swiftly turn it into a booming industry in 19th-century Britain. ![]() This shift is variously known as “modernization, the industrial revolution, the Great Divergence” (80). ![]() At the turn of the 19th century, a small number of countries, “beginning with Great Britain, shifting onto a path of sustained economic expansion that produce higher standards of living and vastly increased wealth for some-and poverty for others” (79). ![]()
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