The industrial revolution and the creation of the modern (national)
state are two of the most important historical processes to have
occurred in Europe during the 19th century. The state and other
bodies of governance play an important role in the development of
capitalist market societies since the 18th century. But modern
market economies are to a large degree a product of the interplay
between market and governance. Yet we are often told a strikingly
different tale about the modern economy, at least how it ought to
work and operate - as far as possible without public interference.
Even more frequently we have been taught that the modern capitalist
market economy is a product of an industrial revolution,
originating with the UK in the middle of the 18th century propelled
by laissez faire and the triumph of free markets which gradually
liberated themselves from the grip of an old dirigiste state. This
book argues that in order to get a better understanding of this
period and the rise of modern industrial capitalism it is necessary
to link the industrial revolution in its various forms to a
political and institutional context of state-making and the
creation of modern national states. Professor Magnusson
demonstrates that a historical narrative which does not acknowledge
the role of the state and public governance for the establishment
of the modern capitalist market economy is fundamentally flawed.
General
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