The Hidden Cause Of The Industrial Revolution

What if the Industrial Revolution wasn't sparked by the steam engine, but by a quiet legal revolution in how England handled property rights? Ben Southwood of Works in Progress argues that the Glorious Revolution of the 1680s unleashed British growth by empowering a Parliament composed of landowners who simplified their own tangled, inefficient property rights. Through thousands of case-by-case acts, they freed up land for investment, consolidated inefficient farm ownership, and enabled a boom in privately built roads, canals, and navigable rivers that created national markets. Along the way, you'll learn why roads once moved at 1.5 miles per hour, and how these centuries-old lessons about buying off holdouts might solve today's housing and infrastructure gridlock.

Listen to the episode here.

ABOUT THE GUEST

Ben Southwood is a founding editor of Works in Progress. He has been head of research at Create Streets, head of housing at Policy Exchange, part of three successful Emergent Ventures grants, and worked as a public sector consultant for KPMG. He edited the Adam Smith Institute’s research for almost five years, producing dozens of impactful reports, including Beyond the Call of Duty: Why we should abolish Stamp Duty Land Tax and Patently Good: A Defence of Intellectual Property, and writing several of his own, including the award-winning research paper Is the rate of scientific progress slowing down? co-authored with Dr Tyler Cowen.

RELATED SOURCES

Cast

Russ Roberts

Russ Roberts

Related

Articles

Europe's Israeli Paradox: Strategic Autonomy And Military Dependence

Europe's security predicament is increasingly paradoxical. Facing an expanding Russian threat and growing uncertainty about American commitments, European governments have pledged to achieve greater strategic autonomy. Yet their efforts to strengthen their defenses have produced a new dependency, this time on Israel. Even as European capitals have become increasingly critical of Israeli policies and imposed restrictions on arms exports to Israel, they turn to Israeli manufacturers for some of the military technologies they need most urgently.

November 5, 2026

Event

Money and Power: Historical Lessons for Stablecoins and U.S Dollar Dominance

The Hoover Institution Economic Policy Working Group hosted “Money and Power: Historical Lessons for Stablecoins and U.S Dollar Dominance” with Michael D. Bordo, the Duncan Stewart Distinguished Visiting Fellow at the Hoover Institution.

April 23, 2026

Articles

We Just Created More Than 1,000 Synthetic Controls To Study California's $20 Fast Food Minimum Wage

Synthetic control methods hold the promise of identifying a credible counterfactual by closely reproducing pretreatment outcome paths. Their reliability, however, depends in part on how effectively they constrain researchers’ less-visible degrees of freedom. We explore these methods’ sensitivity by constructing 1440 plausibly defensible specifications to estimate the employment effect of California’s $20 fast-food minimum wage. While over 96 percent of the estimated employment effects are negative, the range is vast, illustrating that synthetic control methods are sensitive to specification choice.

October 30, 2026