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How England's Glorious Revolution Unlocked Modern Capitalism Through Property Reform

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England's Industrial Revolution emerged from an unlikely source: the Glorious Revolution of 1688, which peacefully transferred power from monarchy to Parliament. While most remember this period for establishing constitutional monarchy, the real breakthrough was legislative productivity that enabled systematic property rights reform. Before 1688, England's property system was as fragmented as the rest of Europe, blocking infrastructure investment and agricultural innovation.

Seventeenth-century Europe suffered chronic economic stagnation despite intellectual advances. Agricultural yields were so low that 70 percent of France's workforce labored in farming between 1695-1790. Fragmented land ownership prevented crop rotation improvements, while rigid inheritance rules made infrastructure investment impossible. Bad roads couldn't transport fertilizer or enable regional specialization. Even the Dutch Golden Age eventually stagnated for over a century.

Other nations repeatedly failed to modernize property rights because monarchs depended on aristocratic support. Spain's King Fernando VI couldn't implement income tax in 1746, and France's Turgot faced refusal from the Parlement of Paris in 1776. Austria's Joseph II abolished serfdom in 1781, but ex-serfs remained bound until 1848. These failures stemmed from the same problem: landowners feared reforms would leave them worse off.

England succeeded because the Glorious Revolution empowered landowners to dismantle their own privileges. Parliament passed thousands of acts after 1688, dramatically increasing from an average of 61 working days per session to continuous legislative activity. This property rights revolution enabled the sustained investments that sparked industrialization, proving that sometimes progress requires those in power to undermine their own advantages.