Originally published in 1976 the theme of this book was that the advance of the British economy between 1660 and 1780 was not continuous and, contrary to a widely held view, there was a pause or at best retarded growth between about 1725 and 1750. Substantiated by reference to the development of a number of industries and regions, the author argues that labour's attitude to work, demographic change and government policies militated against growth. The main argument challenges the view that the second quarter of the eighteenth century witnessed general and sustained economic growth and development. It is argued that low food prices did not generate as much additional purchasing power among the labouring people as some historians have maintained. Nor was most of the additional purchasing power used in ways which promoted the development of the British economy.
This deceleration theory is a key point of debate in economic history and this book is a valuable contribution to this debate.