THE ECONOMICAL AND HISTORICAL IMPACTS OF INDUSTRIAL REVOLUTION TO TRANSPORT INFRASTRUCTURE IN BRITISH EMPIRE

Authors

  • Shahzodahon Ghulomjonova Author

Keywords:

Turnpike Trusts, Joint-Stock Companies, Spatial Friction, Industrial Agglomeration, Railway Mania, Canal Mania, Parliamentary Acts, Market Access Theory, Institutional Path Dependency, Economies of Scale, Transaction Costs

Abstract

This article evaluates the transformative economic and historical role of transport infrastructure as the primary structural catalyst for the United Kingdom’s Industrial Revolution (1760–1860). Historically, the transition from an agrarian, fragmented society to a global industrial hegemon was predicated on the systematic elimination of "spatial friction" through three successive technological waves: the Turnpike Era, Canal Mania, and Railway Mania. Economically, these developments functioned as a massive reduction in transaction costs; between 1700 and 1870, real freight charges plummeted by an estimated 95%, while the speed of inland transit increased tenfold, fostering a Total Factor Productivity (TFP) growth rate in the transport sector exceeding 2% per annum.

Author Biography

  • Shahzodahon Ghulomjonova

    First-year Master’s Student,
    Faculty of Economics, Economics (by Branches and Sectors),
    Namangan State Technical University, Namangan, Uzbekistan
    shakhzodakhong@gmail.com

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Published

2025-12-22

Issue

Vol. 40 No. 4 (2025): Modern education and development

Section

Articles