Manchester capitalism

Manchester capitalism

Manchester Capitalism, Manchester School, Manchester Liberalism, and Manchesterism are terms for the political, economic, and social movements of the 19th century that originated in Manchester, England.

Manchester was the hub of the world’s textile manufacturing industry, and had a high population of factory workers, who were disadvantaged by the Corn Laws, the protectionist policy that imposed tariffs on imported wheat and increased the price of food. The Corn Laws were supported by the land-owning aristocracy, because by reducing foreign competition they allowed landowners to keep grain prices high and therefore, as the population expanded, increase agricultural profits.

However, the operation of the Corn Laws also meant that the factory workers in the textile mills in the textile cities of northern England were faced with higher food bills; consequently the mill owners in turn suffered higher wage bills and therefore higher finished-goods prices which restricted their foreign trade competitiveness.

Manchester became the headquarters of the Anti-Corn Law League from 1839. The League campaigned against the Corn Laws to reduce food prices and increase the competitiveness of manufactured goods abroad, and Manchester Liberalism grew out of this movement.

Manchester Capitalism is regarded as a challenge to the dominant economic system in 16th–18th century Europe: mercantilism.

Mercantilism holds that a country’s prosperity is dependent on large exports, but limited imports of goods. At the beginning of the 19th century, trade in Britain was still subject to import quotas, price ceilings and other state interventions. This led to shortages of certain goods and, in particular, corn (grains usually requiring grinding, most often but not always wheat) on British markets.

The Manchester Liberals argued that free trade would lead to a more equitable society, making essential products available to all.

Theoretically, Manchester Liberalism was founded on the writings of David Hume, Adam Smith and Jean-Baptiste Say.

The great champions of the "Manchester School" were Richard Cobden and John Bright. As well as being advocates of free trade they were radical opponents of war and imperialism and proponents of peaceful relations between peoples. Manchesterism can therefore be seen as a belief in free and consensual relations amongst individuals and groups at all levels. Cobden's efforts in furtherance of free trade were always subordinate to what he deemed the highest moral purpose: the promotion of peace on earth and goodwill among men.

In March 1848 Benjamin Disraeli, a Conservative, first used the term "the School of Manchester".[1] According to historian Ralph Raico, and as indicated by the German liberal Julius Faucher in 1870, the term "Manchesterism" was invented by Ferdinand Lassalle, the founder of German socialism and was meant as an abusive term.[2] Similarly Benjamin Tucker in the United States was reproached as merely a "consistent Manchester man" for his individualist anarchism but instead wore that label as a badge of honor.

See also

Notes and references

  1. ^ W. H. Greenleaf, The British Political Tradition. Volume Two: The Ideological Heritage (London: Methuen, 1983), p. 41.
  2. ^ Raico, Ralph (2004) Authentic German Liberalism of the 19th Century Ecole Polytechnique, Centre de Recherce en Epistemologie Appliquee, Unité associée au CNRS

External links


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Manchester (disambiguation) — Manchester is a city in the north of England. It may also refer to: Greater Manchester Greater Manchester Urban Area Manchester (HM Prison), a men s prison in Manchester, England Contents 1 Education 2 …   Wikipedia

  • Manchester school — may refer to: Manchester capitalism, a socio economic and political movement of the 19th century The Manchester School (journal), an academic journal of economics Manchester school (anthropology), a school of thought in anthropology Manchester… …   Wikipedia

  • Manchester — This article is about the city of Manchester in England. For the wider metropolitan county, see Greater Manchester. For the larger conurbation, see Greater Manchester Urban Area. For other uses, see Manchester (disambiguation). Coordinates …   Wikipedia

  • Manchester Ship Canal — The Stolt Kittiwake heading toward the Mersey Estuary, 2005 Principal engineer Edward Leader Williams Date of act …   Wikipedia

  • Capitalism — Liberal market economy redirects here. For the ideology behind this economic system, see Economic liberalism. Free enterprise redirects here. For the 1999 film, see Free Enterprise (film). For other uses, see Capitalism (disambiguation). Part of… …   Wikipedia

  • Anarcho-capitalism — Part of the Politics series on Anarchism …   Wikipedia

  • Anarchism and anarcho-capitalism — This article discusses similarities and differences between anarcho capitalism and other types of anarchism. Integrating Austrian economics into individualist anarchism Murray Rothbard was a student and disciple of the Austrian economist Ludwig… …   Wikipedia

  • Media in Manchester — Construction of the 12,500m² BBC Centre at MediaCityUK built to house the BBC Sport, BBC Children s and BBC Radio Five Live department and various other tennants …   Wikipedia

  • Classical liberalism — Liberalism …   Wikipedia

  • Michel Chevalier — (13 January 1806 – 18 November 1879) was a French engineer, statesman, economist and free market liberal. Contents …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”