Hobson’s The Evolution of Modern Capitalism was first published in 1894, although this reissue is of the fourth edition, published in 1926. The work traces the developments in trade and industry which characterised the first decades of the twentieth century. In the first part, Hobson deals with the origins and structure of modern capitalism, including the development of the machine industry, the changing structure of trades and markets, and the effects of these on workers and consumers. The final supplementary chapter considers the impact of World War I on this changing economy, and the ‘disturbance, recovery and readjustments’ which the war necessitated. This is a classic work of importance to economic historians and those with a particular interest in the history of capitalism.
Table of Contents
Preface to the New and Revised Edition; Preface to the Revised Edition; 1. The Origin of Modern Capitalism 2. The Instruments of Capitalism 3. The Structure of Industry before Machinery 4. The Order of Development of Machine Industry 5. Size and Structure of the Modern Business 6. The Structure of Trades and Markets 7. Combinations of Capital 8. Cartels and Trusts 9. Economic Powers of Trusts 10. The Financier 11. Machinery and Industrial Depression 12. Machinery and Demand for Labour 13. Machinery and the Quality of Labour 14. The Economy of High Wages 15. Some Effects of Modern Industry Upon the Workers as Consumers 16. Occupations of the People 17. Civilisation and Industrial Development; Supplementary Chapter: Industry in the Twentieth Century