A history of economic doctrines : $b from the time of the physiocrats to the present dayGide, Charles
History
A history of economic doctrines : $b from the time of the physiocrats to the present day
Gide, Charles
Economics -- History
Economic Liberalism had everywhere become triumphant. In France the
corporation era was definitely at an end by 1791. Some manufacturers,
it is true, demanded its re-establishment under the First Empire; but
they were disappointed, and their demands were never re-echoed. In
England the last trace of the Statute of Apprentices, that shattered
monument of the Parliamentary _régime_, was removed from the Statute
Book in 1814. Nothing remained which could possibly check the advent of
_laissez-faire_. Free competition became universal. The State renounced
all rights of interference either with the organisation of production
or with the relations between masters and men, save always the right of
prohibiting combinations in restraint of trade, and this restriction
was upheld with a view to giving free play to the law of demand and
supply. In France the Penal Code of the Empire proved as tyrannous as
the old _régime_ or the Revolution; and although freedom of combination
was granted in England by an Act of 1825, the defined limits were so
narrow that the privilege proved quite illusory. The general opinion of
the English legislator is well expressed in the report of a Commission
appointed by the House of Commons in 1810, quoted by Mr. and Mrs.
Webb.[363] “No interference of the legislature with the freedom of trade,
or with the perfect liberty of every individual to dispose of his time
and of his labour in the way and on the terms which he may judge most
conducive to his own interest, can take place without violating general
principles of the first importance to the prosperity and happiness of the
community.” In both countries—in England as well as in France—a _régime_
of individual contract was introduced into industry, and no legal
intervention was allowed to limit this liberty—a liberty, however, which
really existed only on the side of the employers.
Under this _régime_ the new manufacturing industry, born of many
inventions, was wonderfully developed. In Great Britain Manchester,
Birmingham, and Glasgow, in France Lille, Sedan, Rouen, Elbeuf, Mulhouse,
became the chosen centres of large-scale production.
Alongside of these brilliant successes we have two new phenomena
which were bound to draw the attention of observers and to invite the
reflection of the thoughtful. First we have the concentration in the
great centres of wealth of a new and miserable class—the workers; and,
secondly, we have the phenomenon of over-production.
Public-domain text, read in full here on John Shaqi.
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