History events at the IHR
Debt and Credit in Relation to Increasing Consumption in England, c. 1650-1770
08 November 2013, 17:15 - 19:15
Event Type: Seminar
Craig Muldrew (Cambridge)
According to Adam Smith it was saving on the part of the broad labouring population which allowed a virtuous circle of rising production to be created. Labourers’ savings, which increased their creditworthiness, allowed them to buy more, which in turn led to increased manufacture, which provided more work and wages, and in turn the production of more goods. This paper will look at the period after 1650 and argues that there was indeed a growing accumulation of capital by labourers, held in the form of savings which contributed to an increase in broad-based consumption, and will attempt to compare this to aggregate middling sort saving and consumption.
Venue: Room 102 (Senate House, first floor)
London WC1E 7HU
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