Mises Daily
Author:
William H. Hutt
Online Publish Date:
[Written in 1925, this essay was published in Economica in 1926 and became more widely known when F.A. Hayek included it in Capitalism and the Historians (1954).] The early British factory system may be said to have been the most obvious feature of the Industrial Revolution. Forecasting as it did the trend of subsequent industrial development,