About: Economy of the British Empire

After the defeat of France in the Revolutionary and Napoleonic Wars (1792–1815), the British Empire emerged as the principal naval and imperial power of the 19th century. Unchallenged at sea, British dominance was later described as Pax Britannica ("British Peace"), a period of relative peace in Europe and the world (1815–1914) during which the British Empire became the global hegemon and adopted the role of global policeman. In the early 19th century, the Industrial Revolution began to transform Britain; by the time of the Great Exhibition in 1851 the country was described as the "workshop of the world".