The British Conservative Government’s Political Elite, and the European Union: Safeguarding British Interests (With Special Reference to: 2010 – 2016)

The British Conservative Government’s Political Elite, and the European Union: Safeguarding British Interests (With Special Reference to: 2010 – 2016)

It could be said once more that the traditional outlook and values have been maintained. Furthermore, as we have seen, “the dominant status group – the establishment – has accommodated itself to the creation of a business class, and is continuing to be a key mechanism in the articulation of the economy with the political system”23.
Although the privileged classes in Britain have constantly compromised with each other, and a cultural, economic and political unity has evolved among them, differences in the market situation between the landed class, the City institutions and manufacturers continues to exist. This diversity has to do with the industrial revolution. In the eighteenth century, industry was regarded as a relatively unimportant activity. Manufacturing was the preserve of merchants who controlled the production process through their control over the buying and selling of goods and through their ability to offer credit. In the 1770’s however, the growth of industrial production accelerated and a number of technical innovations were taken up and led to the revolutionary technologies of cotton and iron production. “The merchants who had accumulated both wealth and experience in industrial production were able to take up the opportunities offered by the growth of trade and so could invest surplus capital to meet the demand which had been stimulated by the growth in the population.”24 However, the significance of this so called ‘industrial revolution’ was not at first realised by those involved; it was an “unsought, unplanned, unprecedented phenomenon.”25 But, the technological dimension of the process brought an improvement in the getting and working of raw materials and the substitution of mechanical devices for human skills and power.
The resulting shift from agriculture to industry involved the financiers of the City. The reason was that industry and machinery speeded production. Exchange of mass production i.e. buying and selling commodities as a result, required the insurance and financial activities of the City which deals with large amounts of money. Manufacturing industry on the one hand and financial activities of the City on the other hand became the main areas of economic interest of the elite in Britain. The landed class however were involved in both operations. This situation has remained until the present.
As the technological developments brought a speedy method of production, which was beyond the capacity of the home market to buy all the produced goods or fully supply the need for raw materials to make the goods, Britain was forced to seek markets and raw materials overseas. To do this the elite had to implement a strategy which would ensure that markets would be developed and the flow of raw materials would be assured. Therefore, Britain had to resort to the policy of direct control over those far-away lands which were considered as the potential markets and places which possessed the raw materials that were important to Britain’s manufacturing industry.

This is a unique website which will require a more modern browser to work!

Please upgrade today!