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Britain’s role in the mid-nineteenth century as the world’s greatest economic power was an extraordinary phenomenon, foreshadowed in the Industrial Revolution of the century before and originating from a unique combination of global and indigenous factors. In this study François Crouzet analyses the growth and – in late Victorian Britain – decline of the nation’s economy, drawing on an immense amount of quantitative data to examine and explain its development. The book begins with a macroeconomic survey of the period, reviewing broad fluctuations in economic growth and the question of the ‘mid-Victorian boom’, structural changes in the balance of the economy, demographic movements, capital formation and the influence of Free Trade. Professor Crouzet then goes on to look in detail at the different sectors of the economy, assessing the effects of the relative decline of agriculture against industry, the growth of the tertiary sector, the rise of new industries such as armaments and the transport revolution. His final chapter analyses the reality of and reasons for Britain’s subsequent decline as a world economic superpower. This study, first published in 1982, draws together a wide range of material and provides an invaluable framework for the understanding of a complex and richly-documented period.
The overlooked story of how ordinary women and their husbands managed financially in the Victorian era – and why so many struggled despite increasing national prosperityNineteenth century Britain saw remarkable economic growth and a rise in real wages. But not everyone shared in the nation’s wealth. Unable to earn a sufficient income themselves, working-class women were reliant on the ‘breadwinner wage’ of their husbands. When income failed, or was denied or squandered by errant men, families could be plunged into desperate poverty from which there was no escape.Emma Griffin unlocks the homes of Victorian England to examine the lives – and finances – of the people who lived there. Drawing on over 600 working-class autobiographies, including more than 200 written by women, Bread Winner changes our understanding of daily life in Victorian Britain.
Corporate capitalism was invented in nineteenth-century Britain; most of the market institutions that we take for granted today - limited companies, shares, stock markets, accountants, financial newspapers - were Victorian creations. So were the moral codes, the behavioural assumptions, the rules of thumb and the unspoken agreements that made this market structure work. This innovative study provides the first integrated analysis of the origin of these formative capitalist institutions, and reveals why they were conceived and how they were constructed. It explores the moral, economic and legal assumptions that supported this formal institutional structure, and which continue to shape the corporate economy of today. Tracing the institutional growth of the corporate economy in Victorian Britain and demonstrating that many of the perceived problems of modern capitalism - financial fraud, reckless speculation, excessive remuneration - have clear historical precedents, this is a major contribution to the economic history of modern Britain.
Britain’s role in the mid-nineteenth century as the world’s greatest economic power was an extraordinary phenomenon, foreshadowed in the Industrial Revolution of the century before and originating from a unique combination of global and indigenous factors. In this study François Crouzet analyses the growth and – in late Victorian Britain – decline of the nation’s economy, drawing on an immense amount of quantitative data to examine and explain its development. The book begins with a macroeconomic survey of the period, reviewing broad fluctuations in economic growth and the question of the ‘mid-Victorian boom’, structural changes in the balance of the economy, demographic movements, capital formation and the influence of Free Trade. Professor Crouzet then goes on to look in detail at the different sectors of the economy, assessing the effects of the relative decline of agriculture against industry, the growth of the tertiary sector, the rise of new industries such as armaments and the transport revolution. His final chapter analyses the reality of and reasons for Britain’s subsequent decline as a world economic superpower. This study, first published in 1982, draws together a wide range of material and provides an invaluable framework for the understanding of a complex and richly-documented period.
We think of economic theory as a scientific speciality accessible only to experts, but Victorian writers commented on economic subjects with great interest. Gordon Bigelow focuses on novelists Charles Dickens and Elizabeth Gaskell and compares their work with commentaries on the Irish famine (1845–1852). Bigelow argues that at this moment of crisis the rise of economics depended substantially on concepts developed in literature. These works all criticized the systematized approach to economic life that the prevailing political economy proposed. Gradually the romantic views of human subjectivity, described in the novels, provided the foundation for a new theory of capitalism based on the desires of the individual consumer. Bigelow's argument stands out by showing how the discussion of capitalism in these works had significant influence not just on public opinion, but on the rise of economic theory itself.
The Body Economic revises the intellectual history of nineteenth-century Britain by demonstrating that political economists and the writers who often presented themselves as their literary antagonists actually held most of their basic social assumptions in common. Catherine Gallagher demonstrates that political economists and their Romantic and early-Victorian critics jointly relocated the idea of value from the realm of transcendent spirituality to that of organic "life," making human sensations--especially pleasure and pain--the sources and signs of that value. Classical political economy, this book shows, was not a mechanical ideology but a form of nineteenth-century organicism, which put the body and its feelings at the center of its theories, and neoclassical economics built itself even more self-consciously on physiological premises. The Body Economic explains how these shared views of life, death, and sensation helped shape and were modified by the two most important Victorian novelists: Charles Dickens and George Eliot. It reveals how political economists interacted crucially with the life sciences of the nineteenth century--especially with psychophysiology and anthropology--producing the intellectual world that nurtured not only George Eliot's realism but also turn-of-the-century literary modernism.
This volume marks the first sustained study to interrogate how and why issues of sexuality, desire, and economic processes intersect in the literature and culture of the Victorian fin de siècle. At the end of the nineteenth-century, the move towards new models of economic thought marked the transition from a marketplace centred around the fulfilment of ‘needs’ to one ministering to anything that might, potentially, be desired. This collection considers how the literature of the period meditates on the interaction between economy and desire, doing so with particular reference to the themes of fetishism, homoeroticism, the literary marketplace, social hierarchy, and consumer culture. Drawing on theoretical and conceptual approaches including queer theory, feminist theory, and gift theory, contributors offer original analyses of work by canonical and lesser-known writers, including Oscar Wilde, A.E. Housman, Baron Corvo, Vernon Lee, Michael Field, and Lucas Malet. The collection builds on recent critical developments in fin-de-siècle literature (including major interventions in the areas of Decadence, sexuality, and gender studies) and asks, for instance, how did late nineteenth-century writing schematise the libidinal and somatic dimensions of economic exchange? How might we define the relationship between eroticism and the formal economies of literary production/performance? And what relation exists between advertising/consumer culture and (dissident) sexuality in fin-de-siecle literary discourses? This book marks an important contribution to 19th-Century and Victorian literary studies, and enhances the field of fin-de-siècle studies more generally.
The book focuses upon three central themes: industrial organisation and technology, wages and living standards, and the monetary system. These are at the heart of discussions of productivity growth, the standard of living, well-being and poverty; the criteria by which the Victorian economic system should ultimately be judged.
This book offers a much-needed study of the Victorian novel's role in representing and shaping the service sector's emergence. Arguing that prior accounts of the novel's relation to the rise of finance have missed the emergence of a wider service sector, it traces the effects of service work's many forms and class positions in the Victorian novel.
By the start of the Victorian period the school of British economists which followed Adam Smith was in its ascendancy and 'Political Economy' became associated with moral and political forces leading to an increasingly industrial and political society. This collection of readings from the 'critics of capitalism' looks at the writings of Bray, Carlyle, Marx, Engels, Mill, Arnold, T. H. Green, William Morris and G. B. Shaw.