Lectures on The Industrial Revolution in England
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Description: Transcript of Toynbee's 1884 discussions of the agrarian and Industrial Revolution and the ideas of Smith, Malthus, and Ricardo.
Lectures on The Industrial Revolution in England by Arnold Toynbee 1884 I Introductory The subject of these lectures is the industrial and Agrarian Revolution at the end of the eighteenth and beginning of the nineteenth centuries. The course is divided into three parts. The first deals with Adam Smith and the England of his time. It will describe England on the eve of the Industrial Revolution, and the system of regulation and protection of industry as it existed in 1760. It will give also an outline of Adam Smith's hook, its aims and character, and especially his theory of free trade. The second part will group itself round the work of Malthus, who dealt not so much with the causes of wealth as with the causes of poverty, with the distribution of wealth rather than with its production. It will describe England in the midst of the industrial Revolution, and will inquire into the problem of pauperism and the subjects connected with it. The third part will he associated with the name of Ricardo, and will deal with England at the time of the Peace. It will discuss the doctrine of rent and wages together with certain theories of economic progress, and will cover the questions of currency, so much agitated at that period, and the history of the commercial and financial changes which followed the Peace. I have chosen the subject because it was in this period that modern Political Economy took its rise. It has been a weakness of the science, as pursued in England, that it has been too much dissociated from History. Adam Smith and Malthus, indeed, had historical minds; but the form of modern text-books is due to Ricardo, whose mind was entirely unhistorical. Yet there is a double advantage in combining the two studies. In the first place Political Economy is better understood by this means. Abstract propositions are seen in a new light when studied in relation to the facts which were before the writer at the time when he formulated them. So regarded they are at once more vivid and less likely to mislead. Ricardo bec
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