By Eric J. Hobsbawm
A magisterial account of the increase of capitalism
Eric Hobsbawm's awesome therapy of the an important years 1848-1875 is a penetrating research of the increase of capitalism and the consolidation of bourgeois tradition. within the 1860s a brand new notice entered the commercial and political vocabulary of the area: 'capitalism'. the worldwide triumph of capitalism is the main topic of historical past within the a long time after 1848. The extension of capitalist financial system to 4 corners of the globe, the mounting focus of wealth, the migration of guys, the domination of Europe and eu tradition made the 3rd sector of the 19th century a watershed. it is a heritage not just of Europe yet of the realm.
Eric Hobsbawm's goal isn't to summarise evidence, yet to attract proof jointly right into a old synthesis, to 'make experience of' the interval, and to track the roots of the current international again to it. He integrates economics with political and highbrow advancements during this target but unique account of revolution and the failure of revolution, of the cycles of growth and stoop that characterise capitalist economies, of the sufferers and victors of the bourgeois ethos.
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Extra info for Age Of Capital 1848-1875
A quarter-century later the significance of this caveat would become monumental. In 1760, however, Franklin was describing what he considered an inconceivable scenario. ” With the acquisition of Canada, he wrote his Scottish friend Lord Henry Home Kames, 38 Chapter 1 “all the country from the St. Lawrence to the Mississippi will in another century be filled with British people. ”28 Franklin’s influence on the Peace of Paris signed in 1763 was minimal at most. Still, he could hardly have been more satisfied if he had written the terms himself.
With this zero-sum configuration, wealth and power flowed in but one direction. Any diversion produced a net loss. Consequently, conventional-thinking Londoners perceived colonies in North America from Maryland to Nova Scotia, and even more so the western territories, as all but worthless. Worse, they could turn into competitors, most dangerously in the area of manufacturers. Franklin reversed the equation and redefined the variables. Rather than serve the British as a supplier of materials for manufacturers, America would “serve” Britain as a market for those manufacturers.
2 As a child Franklin lived in Boston throughout the conflict, and much of the fiercest fighting took place in his home state of Massachusetts. As a grown man he followed attentively the next phase in this collision of empires, the inconclusive War of the Austrian Succession 22 Chapter 1 (King George’s War) that extended to North America in 1744 and lasted until 1748. Not until several years later did Franklin become personally involved in promoting British expansion at the expense of the French.
Age Of Capital 1848-1875 by Eric J. Hobsbawm