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.
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.
Introduction History and Politics by F.A. Hayek Part I
1. The Treatment of Capitalism by Historians by T.S. Ashton
2. The Anticapitalist Bias of American Historians by L.M. Hacker
3. The Treatment of Capitalism by Continental Intellectuals by Bertrand de Jouvenel Part II
4. The Standard of Life of the Workers in England, 1790-1830 by T.S. Ashton
5. The Factory System of the Early Nineteenth Century by W.H. Hutt