The fundamental fact about Britain in the first two generations of the Industrial Revolution was, that the comfortable and rich classes accumulated income so fast and in such vast quantities as to exceed all available possibilities of spending and investment.
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About Eric Hobsbawm
Eric Hobsbawm was a 20th-century British academic historian and marxist historiographer. Eric John Ernest Hobsbawm was a British historian of the rise of industrial capitalism, socialism and nationalism. His best-known works include his tetralogy about what he called the "long 19th century" and the "short 20th century", and an edited volume that introduced the influential idea of "invented traditions". Read more on Wikipedia →