The Daily Stat from Harvard Business Review

 

February 25, 2015 A Glimpse into the Political Economy of Downton Abbey During the industrial revolution, the landed gentry in England stifled manufacturing near their country homes, structuring the land, rural society, and local education to further the growth of large estates devoted to hunting, fishing, and high-society gatherings, Eric L. Jones writes in the Journal of Socio-Economics. As a result, manufacturing operations became concentrated in northern areas of the country, where they flourished, although the owners of factories and mines continued to spend their money on expanding and renovating their rural estates. In 1914, the gentry owned half of England; by 2000, less than 1% of the land remained in the gentry's hands. SOURCE: Gentry culture and the stifling of industry

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