Grand Pursuit

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by Sylvia Nasar


  66. John Stuart Mill, Principles of Political Economy, vol. 2 (London: John W. Parker, 1848), 312.

  67. Marx and Engels, Communist Manifesto, 233, 258.

  68. McLellan, Karl Marx, 35.

  69. Charles Dickens, “Perfidious Patmos,” in Household Words; A Weekly Journal 7, no. 155 (March 12, 1853).

  70. Times (London), October 26, 1849.

  71. Anne Humpherys, Travels into the Poor Man’s Country: The Work of Henry Mayhew (Athens: University of Georgia Press, 1977), 203.

  72. Henry Mayhew, “A Visit to the Cholera Districts of Bermondsey,” The Morning Chronicle, September 24, 1849.

  73. E. P. Thompson and Eileen Yeo, eds., The Unknown Mayhew (London: The Merlin Press Ltd., 2009), 102–3.

  74. Quoted in Humpherys, Travels, 31.

  75. Charles Dickens, Oliver Twist (London: Richard Bentley, 1838), 252.

  76. Gareth Stedman Jones, Outcast London: A Study in the Relationship Between Classes in Victorian Society (New York: Penguin Books, 1984).

  77. Henry Mayhew, letter 11, The Morning Chronicle, November 23, 1849.

  78. Ibid.

  79. Ibid., letter 15, December 7, 1849.

  80. Henry Mayhew, “Needlewomen Forced into Prostitution,” letter 8, The Morning Chronicle, November 13, 1849.

  81. Thomas Carlyle, “The Present Time,” Latter Day Pamphlets, issue 9 (February 1, 1850).

  82. Douglas Jerrold to Mary Cowden Clarke, February 1850.

  83. Henry Mayhew, London Labour and the London Poor, no. 40, September 13, 1851.

  84. John Stuart Mill, “The Claims of Labor,” Edinburgh Review, April 1845.

  85. Quoted in James Anthony Froude, Thomas Carlyle: A History of the First Forty Years of His Life (1795–1835) (Montana: Kessinger Publishing, 2006), 298.

  86. Ibid., 282.

  87. Thomas Carlyle, “Chartism,” Latter Day Pamphlets, London, December 1839.

  88. John Stuart Mill to Macvey Napier, November 9, 1844.

  89. H. G. Wells, “Men Like Gods,” Hearst’s International 42, no. 6 (December 1922); David Ricardo, On the Principles of Political Economy and Taxation (London: John Murray, 1817).

  90. Mill, Principles of Political Economy, vol. 3, ch. 1.

  91. Thomas Carlyle, “Occasional Discourses on the Negro Question,” Fraser’s Magazine, 1849.

  92. Archiv für die Geschichte des Sozialismus und der Arbeiterbewegung [Archive for the History of Socialism and the Workers’ Movement] (1922), 56ff 10, quoted in McLellan, Karl Marx, 268–69.

  93. Karl Marx to Joseph Weydemeyer, London, August 2, 1851, in Saul K. Padover, ed., The Letters of Karl Marx (Englewood Cliffs, N.J.: Prentice-Hall, 1979), 72–73.

  94. John Tallis, Tallis’s History and Description of the Crystal Palace, and the Exhibition of the World’s Industry in 1851 London and New York: John Tallis and Co., 1852), quoted in Jeffrey A. Auerbach, The Great Exhibition of 1851, (1999).

  95. “The Revolutionary Movement,” Neue Rheinische Zeitung, no. 184, January 1, 1850.

  96. Ibid.

  97. Karl Marx and Friedrich Engels, Neue Rheinische Zeitung, May–October, 1850.

  98. Marx and Engels, Communist Manifesto, chap. 1.

  99. Karl Marx to Ludwig Kugelmann, December 28, 1862.

  100. Ibid.

  101. Marx and Engels, Communist Manifesto, chap. 1.

  102. Marx, Das Kapital, 671.

  103. John Stuart Mill, Essays on Some Unsettled Questions of Political Economy (London, 1844), 94.

  104. Mark Blaug, Economic Theory in Retrospect (Cambridge, UK: Cambridge University Press, 1997).

  105. Marx, Das Kapital, 711.

  106. Robert Giffen, “The Recent Rate of Material Progress in England,” Opening Address to the Economic Science and Statistics Section of the British Association (London: George Bell and Sons, 1887), 3.

  107. R. Dudley Baxter, National Income, the United Kingdom (London: Macmillan, 1868), B1.

  108. E. J. Hobsbawm, “The Standard of Living During the Industrial Revolution: A Discussion,” Economic History Review, New Series, vol. 16, no. 1 (1963), 119–34.

  109. Charles H. Feinstein, “Pessimism Perpetuated: Real Wages and the Standard of Living in Britain During and After the Industrial Revolution,” Journal of Economic History 58, no. 3, 625–58.

  110. Gareth Stedman Jones, introduction to Marx and Engels, Communist Manifesto.

  111. Marx, Das Kapital, 264–65, note 3.

  112. Egon Erwin Kisch, Karl Marx in Karlsbad (Weimar, Germany: Aufbau Verlag, 1968); Saul Kussiel Padover, Karl Marx: An Intimate Biography (New York: McGraw-Hill, 1978).

  113. Karl Marx to Friedrich Engels, July 22, 1859. Reviews appeared in Das Volk, no. 14, August 6, 1859, and no. 16, August 20, 1859.

  114. Berlin, Karl Marx, 13.

  115. Ibid.

  116. Karl Marx, “The Right of Inheritance,” August 2 and 3, 1869, endorsed by the General Council on August 3, 1869. Marxist Internet Archive, www.marxists.org/archive/marx/iwma/documents/1869/inheritance-report.htm.

  117. Karl Marx to Eleanor Marx, quoted in McLellan, Karl Marx, 334.

  118. Karl Marx to Ludwig Kugelmann, December 28, 1862.

  119. Fyodor Dostoyevsky, Winter Notes on Summer Impressions (Illinois: Northwestern University Press, 1988).

  120. Author’s calculation.

  121. The Bankers Magazine, vol. 26 (1886), 639; Illustrated London News, May 19, 1866; Times (London), May 12, 1866.

  122. New York Times, May 26, 1866.

  123. Sidney Pollard and Paul Robertson, The British Shipbuilding Industry, 1870–1914 (Cambridge, Mass: Harvard University Press, 1999), 77–79.

  124. Marx, Das Kapital, 733–34.

  125. J. H. Clapham, An Economic History of Modern Britain, vol. 3, Machines and National Rivalries (1887–1914) with an Epilogue (1914–1929) (Cambridge: Cambridge University Press, 1932), 117.

  126. Karl Marx to Friedrich Engels, April 6, 1866.

  127. Friedrich Engels to Karl Marx, May 1, 1866.

  128. Karl Marx to Friedrich Engels, July 7, 1866.

  129. Marx, Das Kapital, 715.

  130. William Gladstone, “Budget Speech of 1863, House of Commons,” Times (London), April 16, 1863.

  131. Honore de Balzac, The Unknown Masterpiece (1845), www.gutenberg.org/files/23060/23060-h/23060-h.htm.

  132. John Maynard Keynes, Essays in Persuasion (W. W. Norton and Co., 1963), 300.

  II: MUST THERE BE A PROLETARIAT? MARSHALL’S PATRON SAINT

  1. Ralph Waldo Emerson, “Ode, Inscribed to William H. Channing,” in Poems (London: Chapman Bros., 1847).

  2. Alfred Marshall, “Speech to the Cambridge University Senate,” in John K. Whitaker, ed., The Correspondence of Alfred Marshall, vol. 3, Towards the Close, 1903–1924 (Cambridge: Cambridge University Press, 1996), 399.

  3. Morning Star, quoted in Karl Marx, Das Kapital (1867), Modern Library edition. 734; W.D.B, “Distress in Poplar,” letter to the editor, The Times (London), January 12, 1867; “Able-Bodied Poor Breaking Stones for Roads, Bethnel Green London,” Illustrated London News, February 15 (or 16?); “The Distress at the East End: A Soup Kitchen in Ratcliff Highway,” Illustrated London News, February 16, 1867; “The Distress at the East End: A Soup Kitchen in Ratcliff Highway,” Illustrated London News, February 16, 1867.

  4. Sara Horrell and Jane Humphries, “Old Questions, New Data, and Alternative Perspectives: Families’ Living Standards in the Industrial Revolution,” Journal of Economic History 52, no. 4 (December 1992): 849–80.

  5. Florence Nightingale to Charles Bracebridge, January 1867, in Lynn McDonald, ed., The Collected Works of Florence Nightingale, vol. 6, Florence Nightingale on Public Health Care (Ontario: Wilfred Laurier University Press, 2002).

  6. Francis Sheppard, London: 1808–1870 (London: Secker & Warburg, 1971), 340.

  7. Times (London) May 6, 1867.

  8. Robert Giffen, “Proceedings of the Statistical Society,” Journal of the Statistical Society of Londo
n 30, no. 4 (December 1867), 564–65.

  9. Henry Fawcett, Pauperism: Its Causes and Remedies (London: Macmillan, 1871), 1–2.

  10. Edward Denison, A Brief Record: Being Selections from Letters and Other Writings of Edward Denison, ed. Sir Bryan Baldwin Leighton (London: E. Barrett and Sons, 1871), 46.

  11. Alfred Marshall, in John Maynard Keynes, “Alfred Marshall, 1842–1924,” in Arthur Pigou, ed., Memorials of Alfred Marshall (London: Macmillan, 1925), 358.

  12. Alfred Marshall, “Lecture Outlines,” in Tiziano Raffaelli, Eugenio F. Biagini, Rita McWilliams Tullberg, eds., Alfred Marshall’s Lectures to Women: Some Economic Questions Directly Connected to the Welfare of the Laborer (Aldershott, UK: Edward Elgar Publishing Company, 1995), 141.

  13. Ronald H. Coase, “Alfred Marshall’s Mother and Father,” and “Alfred Marshall’s Family and Ancestry,” in Essays on Economics and Economists (Chicago: University of Chicago Press), 1994.

  14. Charles Dickens, Great Expectations (London: Chapman and Hall, 1861).

  15. The Times (London), October 8, 1859.

  16. Anthony Trollope, The Vicar of Bullhampton (London: Bradbury and Evans, 1870).

  17. K. Theodore Hoppen, The Mid-Victorian Generation 1846–1886 (Oxford, UK: Clarendon Press, 1998), 40.

  18. Anthony Trollope, The Warden (London: Longman, Brown, Green, and Longmans, 1855), 289.

  19. Peter D. Groenewegen, A Soaring Eagle: Alfred Marshall: 1842–1924 (London: E. Elgar, 1995), 51.

  20. David McLellan, Karl Marx: His Life and Thought (New York: Harper and Row, 1974).

  21. William Dudley Baxter, National Income: The United Kingdom (London: Macmillan, 1868), Global Prices and Income History Website, http://gpih.ucdavis.edu.

  22. Groenewegen, A Soaring Eagle, 107.

  23. John Maynard Keynes, “Alfred Marshall,” in Essays in Biography (New York: W. W. Norton, 1951), 126.

  24. Mary Paley Marshall, quoted in Keynes, “Alfred Marshall, 1842–1924,” 37.

  25. Ibid.

  26. Groenewegen, A Soaring Eagle, 62.

  27. Leslie Stephen, Sketches from Cambridge by a Don (London: Macmillan and Co., 1865), 37–38.

  28. Alfred Marshall to James Ward, in John King Whitaker, ed., The Correspondence of Alfred Marshall, vol. 2, At the Summit, 1891–1902 (Cambridge: Cambridge University Press, 1996), 441.

  29. Mary Paley Marshall, quoted in Keynes, “Alfred Marshall, 1842–1924,” 37.

  30. Alfred Marshall, “Speech to Promote a Memorial for Henry Sidgwick,” in Whitaker, ed., Correspondence, vol. 2, 441.

  31. Groenewegen, A Soaring Eagle, 3.

  32. Alfred Marshall, preface to Money, Credit and Commerce (London: Macmillan, 1923).

  33. Beatrice Webb, My Apprenticeship (London: Macmillan, 1926).

  34. Alfred Marshall to James Ward, September 23, 1900, in Whitaker, ed., Correspondence, vol. 2.

  35. Gertrude Himmelfarb, “The Politics of Democracy: The English Reform Act of 1867,” Journal of British Studies 6, no. 1 (November 1966): 97.

  36. Henry James, preface to The Princess Casamassima (New York: Charles Scribner’s Sons, 1908 [1886]), vi.

  37. Keynes, “Alfred Marshall, 1842–1924,” 37.

  38. Marshall to Ward, September 23, 1900.

  39. Henry Sidgwick, Principles of Political Economy (London: Macmillan and Co., 1883), 4.

  40. John E. Cairnes, The Character and Logical Method of Political Economy; Being a Course of Lectures Delivered in the Hilary Term, 1857 (London: Longmans, Brown, Green, Longmans and Roberts, 1857), 38.

  41. John Ruskin, Unto This Last: Four Essays in the First Principles of Political Economy (London: Smith Elder, 1862).

  42. Gertrude Himmelfarb, The Idea of Poverty: England in the Early Industrial Age (New York: Alfred A. Knopf, 1984).

  43. Leslie Stephen, The Life of Henry Fawcett (London: Smith, Elder and Co., 1886), 222.

  44. Ruskin, Unto This Last, 20.

  45. J. E. Cairnes, Some Leading Principles of Political Economy (London: University College London, 1874), 291.

  46. John Stuart Mill, Principles of Political Economy (London: Longmans, Green and Co., 1885), 220.

  47. Francis Bowen, The Principles of Political Economy Applied to the Condition, the Resources, and the Institutions of the American People (Boston: Little, Brown and Co., 1859) 197.

  48. Millicent Garrett Fawcett, Political Economy for Beginners (London: Macmillan, 1906), 100.

  49. John Francis Bray, Labour’s Wrongs and Labour’s Remedy, or the Age of Might and the Age of Right (Leeds, UK: David Green Briggate, 1839).

  50. Alfred Marshall, Alfred Marshall’s Lectures to Women, Some Economic Questions Directly Connected to the Welfare of the Labourer (Aldershot, UK: Edward Elgar, 1995), lecture 5, 119.

  51. Ibid., 156.

  52. Ibid., quotes from April and May 1873 notes by Mary Paley, 47, 53, and 54.

  53. Joseph Schumpeter, The History of Economic Thought (Cambridge, Mass.: Harvard University Press, 1954), 290.

  54. Arnold Toynbee, Lectures on the Industrial Revolution of the Eighteenth Century in England (London: Rivingtons, 1884) 175.

  55. Marshall, Lectures to Women. May 9, 1873.

  56. Ibid.

  57. Mary Paley Marshall, What I Remember, 9.

  58. Winnie Seebohm in Martha Vicinus, Independent Women: Work and Community for Single Women 1850–1920 (Chicago: University of Chicago Press, 1985), 151.

  59. W. S. Gilbert and Arthur Sullivan, Princess Ida, 1884.

  60. Mary Paley Marshall, What I Remember, 16.

  61. George Eliot, The Mill on the Floss (London: William Blackwood and Sons, 1860).

  62. Mary Paley Marshall, What I Remember, 20–21.

  63. Lord Ernle, English Farming Past and Present, 3d ed. (London: Longmans, Green and Co., 1922), 407.

  64. The Cambridge Chronicle, April 11, 1874.

  65. Alf Peacock, “Revolt of the Fields in East Anglia,” Our History (London: Communist Party of Britain, 1968).

  66. Times (London), April 13, 1874.

  67. George Eliot, Middlemarch (Edinburgh: William Blackwood and Son, 1874).

  68. The Cambridge Chronicle, April 25, 1874, and May 8, 1874.

  69. The Cambridge Independent Press, May 16, 1874.

  70. Alfred Marshall, “Beehive Articles,” 1874; in R. Harrison, “Two Early Articles by Alfred Marshall,” Economic Journal 73 (September 1963): 422–30.

  71. Alfred Marshall, quoted in The Cambridge Independent Press, May 16, 1874.

  72. Alfred Marshall to Rebecca Marshall, Niagara Falls, July 10, 1875, in John K. Whitaker, ed., The Correspondence of Alfred Marshall, Economist, vol. 1, Climbing, 1868–1890 (Cambridge: Cambridge University Press, 1996), 68–70.

  73. Ibid., Alfred Marshall to Rebecca Marshall, Springfield, Mass., June 12, 1875.

  74. Ibid.

  75. Ibid., Alfred Marshall to Rebecca Marshall, Boston, June 20, 1875, 54.

  76. Ibid., Alfred Marshall to Rebecca Marshall, Cleveland, July 18, 1875, 71.

  77. Alfred Marshall, “Some Features of American Industry,” November 17, 1875, lecture to the Cambridge Moral Sciences Club, in John K. Whitaker, ed., The Early Economic Writings of Alfred Marshall, 1867–1890, vol. 2 (London: The Royal Economic Society, 1975), 369.

  78. Alfred Marshall to Rebecca Marshall, Cleveland, July 18, 1875, in Whitaker, Correspondence, vol. 1, 72.

  79. Keynes, “Alfred Marshall: 1842–1924,” Essays in Biography (New York: W. W. Norton and Co., 1951), 142.

  80. John K. Whitaker, “The Evolution of Alfred Marshall’s Economic Thought and Writings Over the Years,” in Whitaker, Early Economic Writings, 57.

  81. Alfred Marshall, “Some Features of American Industry,” in Whitaker, Early Economic Writings, 354.

  82. Reminiscences of America in 1869 by Two Englishmen (London: Sampson, Low and Son and Marston, 1870).

  83. Mary Paley Marshall, What I Remember.

  84. Marshall, “Some Features of American
Industry,” 357.

  85. Alfred Marshall to Rebecca Marshall, Lowell, Mass., and Cambridge, Mass., June 22, 1875, in Whitaker, Correspondence, vol. 1, 58.

  86. Reminiscences of America, 86.

  87. Samuel Bowles, The Pacific Railroad—Open: How to Go, What to See (Boston: Fields, Osgood and Co., 1869).

  88. Marshall, “Some Features of American Industry,” 357.

  89. Alfred Marshall to Rebecca Marshall, Springfield, Mass., June 12, 1875, in Whitaker, Correspondence, vol. 1, 44.

  90. Reminiscences of America, 242.

  91. Marshall, “Some Features of American Industry,” 359.

  92. Alfred Marshall, Principles of Economics (London: Macmillan, 1890).

  93. Marshall, “Some Features of American Industry,” 353.

  94. Alfred Marshall to Rebecca Marshall, Cleveland, July 18, 1875, in Whitaker, Correspondence, vol. 1, 71.

  95. Ibid., June 5, 1875.

  96. Marshall, “Some Features of American Industry,” 372.

  97. Karl Marx, Das Kapital (1887), Friedrich Engels, ed., trans. S. Moore and E. Aveling (New York: Charles H. Kerr & Company, 1906), 709.

  98. Marshall, “Some Features of American Industry,” 375.

  99. Alfred Marshall to Rebecca Marshall, June 5, 1875, in Whitaker, Correspondence, vol. 1, 36.

  100. Mary Paley Marshall, What I Remember, 19.

  101. Phyllis Rose, Parallel Lives: Five Victorian Marriages (New York: Alfred A. Knopf, 1983).

  102. Mary Paley Marshall, What I Remember, 23.

  103. Alfred Marshall, testimony, December 1880, Governmental Committee on Intermediate and Higher Education in Wales and Monmouthshire, quoted in J. K. Whitaker, “Marshall: The Years 1877 to 1885,” in History of Political Economy 4, no. 1 (Spring 1972): 6.

  104. Mary Paley Marshall, What I Remember, 24.

  105. Marion Fry Pease, “Some Reminiscences of University College, Bristol” (University of Bristol Library, Special Collections, 1942).

  106. John Maynard Keynes, “Mary Paley Marshall,” in Essays in Biography.

  107. Marshall, in Whitaker, Early Economic Writings, 355.

  108. Alfred Marshall, “The Present Position of Economics,” in Whitaker, ed., Early Economic Writings, 51.

  109. Marshall, Principles of Economics, 1.

  110. Mill, Principles of Political Economy, vol. 2.

 

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