Economic Development The United Kingdom And Japan

For this research paper, I am going to explain my theories as to what the efforts of the economic development in both the United Kingdom and in Japan were and how both theories compare and contrast. Economic development is defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting our growing income and the tax base. This comparative analysis for my research comes from chapter four in the textbook which deals with the subject of political economies. The first country that I wanted to discuss was the United Kingdom. From my research, I have conducted that although there are many factors that have been said that aided the United Kingdom with the success of their country s economic development, one theory that I believe is most accurate is the effect of the Industrial Revolution. This theory consisted of a cluster of technological innovations that drove down costs of production and brought about ra pid industrialization. As mentioned in the textbook, the Industrial Revolution consisted of a cluster of technological innovations that drove down costs of production and brought about rapid industrialization within the country. Some individual’s theory is that the availability of coal mattered while others argue that the country was relatively organized. Another theory is that others suggest that development happened here due to attitudes and culture whether in the populace at largeShow MoreRelatedThe United Kingdom And International Trade Agreement And The Association Of Southeast Asian Nations1128 Words   |  5 PagesEconomic cooperation by various countries is a necessity as opposed to a choice in this globalized world. Many economic partnerships are regional, and all regions on the planet have their own. 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