Growth, Profits and Technological Choice: The Case of the Lancashire Cotton Textile Industry

Journal of Industrial History, Vol. 1, No. 1, pp. 35–55, 1998

21 Pages Posted: 12 Jan 2011

See all articles by Steve Toms

Steve Toms

University of Leeds - Leeds University Business School (LUBS); University of Leeds - Division of Accounting and Finance

Date Written: 1998

Abstract

Using Lancashire textile industry company case studies and financial records, mainly from the period just before the First World War, the processes of growth and decline are re-examined. These are considered by reference to the nature of Lancashire entrepreneurship and the impact on technological choice. Capital accumulation, associated wealth distributions and the character of Lancashire business organisation were sybiotically linked to the success of the industry before 1914. However, the legacy of that accumulation in later decades, chronic overcapacity, formed a barrier to reconstruction and enhanced the preciptious decline of a once great industry.

Keywords: Lancashire cotton industry, rings and mules, automatic looms, vertical integration, financial performance, capital accumulation, technology

JEL Classification: L67, L22, N13, N23, N64, N83, O16, O18

Suggested Citation

Toms, Steve, Growth, Profits and Technological Choice: The Case of the Lancashire Cotton Textile Industry (1998). Journal of Industrial History, Vol. 1, No. 1, pp. 35–55, 1998. Available at SSRN: https://ssrn.com/abstract=1738265 or http://dx.doi.org/10.2139/ssrn.1738265

Steve Toms (Contact Author)

University of Leeds - Leeds University Business School (LUBS) ( email )

Leeds LS2 9JT
United Kingdom

University of Leeds - Division of Accounting and Finance ( email )

Leeds LS2 9JT
United Kingdom

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