‘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|
|Date of revision:|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Huberman,Michael, 1996.
"Escape from the Market,"
Cambridge University Press, number 9780521561518, November.
- 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.
- Toms, Steven, 2005. "Financial control, managerial control and accountability: evidence from the British Cotton Industry, 1700-2000," Accounting, Organizations and Society, Elsevier, vol. 30(7-8), pages 627-653.
- Toms, Steven, 2008.
"Calculating Profit: A Historical Perspective on the Development of Capitalism,"
The York Management School Working Papers
41, The York Management School, University of York.
- Toms, J.S., 2010. "Calculating profit: A historical perspective on the development of capitalism," Accounting, Organizations and Society, Elsevier, vol. 35(2), pages 205-221, February.
- Clark, Gregory, 1994. "Factory Discipline," The Journal of Economic History, Cambridge University Press, vol. 54(01), pages 128-163, March.
- Siegel, Jeremy J., 1992. "The real rate of interest from 1800-1990 : A study of the U.S. and the U.K," Journal of Monetary Economics, Elsevier, vol. 29(2), pages 227-252, April.
- 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.
- Humphries,Jane, 2010. "Childhood and Child Labour in the British Industrial Revolution," Cambridge Books, Cambridge University Press, number 9780521847568, November.
- Anderson, Gary M & Ekelund, Robert B, Jr & Tollison, Robert D, 1989. "Nassau Senior as Economic Consultant: The Factory Acts Reconsidered," Economica, London School of Economics and Political Science, vol. 56(221), pages 71-81, February.
- Lazonick, William, 1981. "Competition, Specialization, and Industrial Decline," The Journal of Economic History, Cambridge University Press, vol. 41(01), pages 31-38, March.
- Marvel, Howard P, 1977. "Factory Regulation: A Reinterpretation of Early English Experience," Journal of Law and Economics, University of Chicago Press, vol. 20(2), pages 379-402, October.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:54408. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.