‘Cold, Calculating Political Economy’: Fixed costs, the Rate of Profit and the Length of the Working Day in the Factory Act Debates, 1832-1847
The paper re-analyses the evidence presented by pro and anti-regulation interests during the debates on factory reform. To do so it considers the interrelationship between fixed costs, the rate of profit and the length of the working day. The interrelationship casts new light on the lobbying positions on either side of the debate. It does so by comparing the evidence presented in the debates before parliament and associated pamphlets with actual figures contained in the business records of implicated firms. As a result the paper identifies the compromise position of the working day length compatible with reasonable rates of profit based on actual cost structures. It is thereby able to reinterpret the validity of the claims of contemporary political economy used to support the cases for and against factory regulation.
|Date of creation:||13 Mar 2014|
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Elsevier, vol. 35(2), pages 205-221, February.
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- Mueller, F. & Carter, C., 2007. "`We are all managers now': Managerialism and professional engineering in UK electricity utilities," Accounting, Organizations and Society, Elsevier, vol. 32(1-2), pages 181-195.
- Harley, C. Knick, 2012. "Was technological change in the early Industrial Revolution Schumpeterian? Evidence of cotton textile profitability," Explorations in Economic History, Elsevier, vol. 49(4), pages 516-527.
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- Lazonick, William, 1981. "Competition, Specialization, and Industrial Decline," The Journal of Economic History, Cambridge University Press, vol. 41(01), pages 31-38, March.
- Clark Nardinelli, 1985. "The Successful Prosecution of the Factory Acts: A Suggested Explanation," Economic History Review, Economic History Society, vol. 38(3), pages 428-430, 08.
- repec:cup:cbooks:9780521287593 is not listed on IDEAS
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- Cooper, David J. & Sherer, Michael J., 1984. "The value of corporate accounting reports: Arguments for a political economy of accounting," Accounting, Organizations and Society, Elsevier, vol. 9(3-4), pages 207-232, October.
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