An Introduction to the Industrial and Social History of EnglandCheyney, Edward Potts
History
An Introduction to the Industrial and Social History of England
Cheyney, Edward Potts
Great Britain -- Economic conditions; Great Britain -- Maps; Industries -- Great Britain
A third and by far the most important intellectual influence which
tended toward the destruction of the system of regulation was the
development of a consistent body of economic teaching, which claimed
to have discovered natural laws showing the futility and injuriousness
of any such attempts. Adam Smith's _Wealth of Nations_ was published
in 1776, the year of the invention of Crompton's mule, and in the
decade when enclosures were more rapid than at any other time, except
in the middle years of the Napoleonic wars. This was, therefore, one
of the earliest, as it was far the most influential, of a series of
books which represent the changes in ideas correlative to the changes
in actual life already described. It has been described as having for
its main object "to demonstrate that the most effectual plan for
advancing a people to greatness is to maintain that order of things
which nature has pointed out, by allowing every man, as long as he
observes the rules of justice, to pursue his own interests in his own
way, and to bring both his industry and his capital into the freest
competition with those of his fellow-citizens." But the most distinct
influence exercised by the writings of Adam Smith and his successors
was not so much in pointing out that it was unjust or unwise to
interfere with men's natural liberty in the pursuit of their
interests, as in showing, as it was believed, that there were natural
laws which made all interference incapable of reaching the ends it
aimed at. A series of works were published in the latter years of the
eighteenth and the early years of the nineteenth century by Malthus,
Ricardo, Macculloch, James Mill, and others, in which principles were
enunciated and laws formulated which were believed to explain why all
interference with free competition was useless or worse. Not only was
the whole subject of economic relations clarified, much that had been
regarded as wise brought into doubt, and much that had been only
doubted shown to be absurd, but the attainment of many objects
previously sought for was, apparently, shown to be impossible, and to
lie outside of the realm of human control.
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