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The Rise of Capitalism in Britain 1660-1830 (Context)

Module description

A series of economic revolutions – agricultural, consumer, financial, industrial – transformed Britain over the long eighteenth century, in conjunction with the capture of overseas markets through imperial expansion. In this module you will explore these dramatic changes and consider the extent to which they marked the emergence of a modern capitalist society. The profound shift in the role of markets, property rights and wages will be examined from a range of cultural, social, legal, intellectual and political perspectives. What was the effect on people’s lives as more goods were made to be bought and sold in markets, more land came under private ownership, and more people became dependent on selling their labour to survive? You will reflect on these underlying shifts as we consider different aspects of Britain in the long eighteenth century, such as the division of men and women’s labour, attitudes to luxury consumer goods, and the exploitation of natural resources. Throughout the module we will continually situate Britain’s economic development in a global context, from the development of plantation slavery to the dominance of Asian textile production.

Module aims - intentions of the module

This module has two broad aims: to provide an overview of the economic history of eighteenth-century Britain in global context; and to introduce you to key concepts and theories relevant to the history of capitalism. This means you will have the opportunity to explore different themes in economic history on their own terms, while also being equipped to consider how these themes can be linked analytically to gain a deeper understanding of the formation of the modern world.

You will learn how to use interdisciplinary approaches to study economic history, drawing on ideas from sociology, anthropology, literary studies, intellectual history, art history, as well as economics. While the module tackles ‘traditional’ economic topics such as labour, consumption and credit, we will often approach these topics through a cultural or social lens, reflecting on how people perceived and experienced economic activities.

The module will build your knowledge and understanding of the diverse forms of work, especially women’s work; the complex historiographies surrounding the various agricultural, financial, consumer and industrial revolutions; the implications of a ‘market economy’ and how it shaped what people owned and their standard of living; the power structures that markets created, and how these were shaped by gender and race.

You will also learn about how theories of capitalism have been used by scholars to understand critical changes in this period. ‘Capitalism’ describes more than an economic system, and offers a powerful set of tools for navigating the interplay of different elements of society, culture and politics. You will learn key capitalist concepts, such as commodification, which you can test against the evidence from eighteenth-century Britain. You will engage with the vibrant ‘New Histories of Capitalism’, which are especially concerned with global interconnections and the role of slavery and colonialism in the development of capitalism. You will also encounter both past and present supporters and critics of capitalism; celebrating its productive power or denouncing its inequalities.

Some familiarity with the early modern period (c.1500-1800) will be helpful, but no specialist knowledge of economic history is necessary. The co-requisite Sources module will introduce you to the diverse range of sources we can use to examine this topic.

By engaging with this rich empirical and theoretical subject, you will develop sophisticated research, analytical, interpretative and communication skills that can be applied in further academic studies or in graduate careers.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Evaluate the complex themes in eighteenth century economic history from social, cultural and economic perspectives
• 2. Identify key concepts, theories and debates within the history of capitalism
• 3. Analyse key developments in the British economy c.1660-1830

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 4. Focus on and comprehend complex issues
• 5. Analyse philosophical and critical arguments to assess their utility to the historian
• 6. Understand and deploy relevant historical terminology in a comprehensible and sophisticated manner

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 7. Undertake independent and autonomous study and group work, including presentation of material for group discussion, developed through the mode of learning
• 8. Digest, select and organise material to produce, to a deadline, a coherent and cogent argument, developed through the mode of assessment

Syllabus plan

Whilst the content may vary from year to year, it is envisioned that it will cover some or all of the following topics:

• Women’s work and the gendered division of labour
• The increase in the numbers of people working for wages
• Unfree workers: servants and slaves
• Theories of capitalism and the new global history of capitalism
• Wealth, poverty and inequality
• Attitudes to work, industriousness and labour discipline
• Agrarian capitalism and the enclosure of common land
• Industrialisation and living standards
• The Anthropocene, or ‘Capitalocene’
• Consumer revolution and luxury goods
• Commodities and markets
• Trade, imperialism and the East India Company
• Financial revolution and the Bank of England
• Financial crises and the South Sea Bubble
• Money, credit and debt

Some of you will already have studied some economic history; others will not. The introductory sessions will therefore be important in offering a broad overview within which framework everyone can place their subsequent work. The co-requisite module will also provide a close focus on the historical sources available for study. You will be expected to prepare for seminars by reading and evaluating the respective sources in advance, and will discuss the issues raised by them in the seminars.

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you miss an assessment for certificated reasons judged acceptable by the Mitigation Committee, you will normally be either deferred in the assessment or an extension may be granted. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to submit a further assessment as necessary. If you are successful on referral, your overall module mark will be capped at 40%.

Indicative learning resources - Basic reading

• S. Beckert, Empire of Cotton: A New History of Global Capitalism (2014)
• M. Berg, Luxury and Pleasure in Eighteenth-Century Britain (2005)
• S. Newman, A New World of Labor: The Development of Plantation Slavery in the British Atlantic (2013)
• K. Wrightson, Earthly Necessities: Economic Lives in Early Modern Britain (2000)
• S. King and A. Tomkins (eds), The Poor in England, 1700-1850: An Economy of Makeshifts (2003)
• C. Muldrew, The Economy of Obligation: The Culture of Credit and Social Relations in Early Modern England (1998)
• J. de Vries, The Industrious Revolution: Consumer Behaviour and the Household Economy, 1650 to the Present (2008)
• J. Neeson, Commoners: Common Right, Enclosure and Social Change in England, 1700–1820 (1993)
• E.P. Thompson, Customs in Common (1993)
• A. Shepard, Accounting for Oneself: Worth, Status and the Social Order in Early Modern England (2016)
• D. Valenze, The Social Life of Money in the English Past (2006)
• J. Bohstedt, The Politics of Provisions: Food Riots, Moral Economy, and Market Transition in England, c. 1550-1850 (2010)
• C. Tomlins. Freedom Bound: Law, Labour, and Civic Identity in Colonising English America, 1580–1865 (2010)
• E.M. Wood, The Origin of Capitalism: A Longer View (2002)

Indicative learning resources - Web based and electronic resources

• ELE – Faculty to provide hyperlink to appropriate pages
• Exeter Electronic Library resources include: ProQuest Theses and Dissertations
• Key journals for the module are available via JSTOR, Project Muse, Taylor & Francis, Cambridge Journals Online, Oxford Journals

Key words search

Capitalism, work, economy, wealth, poverty, industrialisation, finance