The Evolution of Modern Capitalism: A Study of Machine Production — John Shaqi
The Evolution of Modern Capitalism: A Study of Machine ProductionHobson, J. A. (John Atkinson)
History
The Evolution of Modern Capitalism: A Study of Machine Production
Hobson, J. A. (John Atkinson)
Capitalism; Industries -- History; Machinery in the workplace
It is not possible to form a very accurate estimate of the relative
importance of the different industries as measured either by the money
value of their products, or by the amount of labour engaged in
producing them. Eighteenth century statistics, as we saw, furnished no
close estimate of the total income of the nation or of the value of
home industries. Since no direct census of the English population was
taken before 1805, the numbers were never exactly known, and
eighteenth century economists spent much time and ingenuity in trying
to ascertain the growth of population by calculations based upon the
number of occupied houses, or by generalising from slender and
unreliable local statistics, without in the end arriving at any close
agreement. Still less reliable will be the estimates of the relative
size and importance of the different industries.
Two such attempts, however, one slightly prior to the special period
we are investigating, and one a little later, may be taken as general
indications of the comparative importance of the great divisions of
industry, agriculture, manufacture, distribution or commerce.
The first is that of Gregory King in the year 1688. King's
calculation, however, can only be regarded as roughly approximate. The
quantity of combined agriculture and manufacture, and the amount of
domestic industry for domestic consumption, renders the manufacturing
figures, however carefully they might have been collected, very
deceptive. The same criticism, though to a less degree, applies to the
estimate of Arthur Young for 1769.
[Illustration]
If to Young's estimate of the population dependent upon agriculture we
add the class of landlords and their direct dependents and a proper
proportion of the non-industrious poor, who, though not to be so
classed in a direct measurement of occupations, are supported out of
the produce of agriculture, we shall see that in 1769 we are justified
in believing that agriculture was in its productiveness almost
equivalent to the whole of manufactures and commerce.
In turning to the several branches of manufacture, the abnormal
development of one of them, viz. the woollen, for purposes of foreign
trade, marks the first and only considerable specialisation of English
industry before the advent of steam machinery. With the single
exception of woollen goods almost the whole of English manufactures
were for home consumption. At the opening of the eighteenth century,
and even as late as 1770, no other single manufacture played any
comparable part in the composition of our export trade.
According to Chalmers,[16] in the period 1699-1701, the annual value
of woollen exports was over two and a half million pounds, or about
two-fifths of the total export trade, while in 1769-71 it still
amounted to nearly one-third of the whole, giving entire or partial
employment to no fewer than "a million and a half of people," or half
of the total number assigned by Young to manufacture.
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