Capitalism and the Historians

Essays by economic historians making the case that early factory workers benefited from the Industrial Revolution, despite its hardships and disruptions. The views generally held about the rise of the factory system in Britain derive from highly distorted accounts of the social consequences of that system—so say the distinguished economic historians whose papers make up this book. The authors offer documentary evidence to support their conclusion that under capitalism the workers, despite long hours and other hardships of factory life, were better off financially, had more opportunities, and led a better life than had been the case before the Industrial Revolution. Edited and with an introduction by the Nobel Prize-winning economist and author of The Road to Serfdom, this is “a book that will disturb the sleep of a good many scholars” (Max Eastman).