The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Whereas Eliza- ethan itatesmen simed at promoting National Porcer md the neans of attaining ip nineteenth sentury rublic YOARLONE POSTSCRIPT wm vogue a hundred years ago. The competition of small capitalists, within the limits of a single country, is being rapidly superseded as the determining factor in price; a revolution is occurring, similar to that by which private enterprise ousted civic regulation and well-ordered trade. In every particular, the transition which has been recently taking place corresponds to the changes which occurred after the discovery of the precious metal in the New World, save that, In modern times, the movements are more rapid and more widespread in their effects, 283. The parallel between the economic conditions of the Elizabethan age, with which this volume opened, and those of recent times in England is clear enough; but there are differences which are well worth noting. The object which Lord Burleigh and many succeeding generations of statesmen kept steadily before them was that of building up English power and prestige. They were determined that the nation should be free, economically and politically, to live her own life, and work out her destiny in the world for herself, incontrolled by the Pope, or any of the Roman Catholic powers. Their whole scheme of industrial and commercial life was devised with a view of fostering the elements that made for national power. Adam Smith and the classical economists 1id not really abandon this point of view; they only insisted on a new means of obtaining the recognised end of political sconomy, as they understood it. They pointed out that wealth of any kind was the source of power, and that laissez faire principles were favourable to the rapid increase of wealth, both individual and national, and therefore to the in- rease of the power of the nation. The change, which occurred In nineteenth century opinion, was somewhat deeper; it depended on new views, not of the means to be used, but of the end to be pursued. The welfare of the people committed “ their charge was not left out of account, or forgotten, by the statesmen of the Elizabethan and Stuart period, but their chief care was for national power; in the last half century, national, power and prestige still kindle the keenest en- thusiasm, but the main thought and effort of public men is riven to the improvement of the condition of the masses of 376

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