chapter  VI
21 Pages

Showing the White Flag: The Lancashire Cotton Industry

Although outsiders , such as John Maynard Keynes and Hugh Dalton, thought that the cotton employers of Lancashire were seriously deficient in business acumen, it is possible to argue that in fact this was the opposite of the case . A detailed consideration of the voluminous archives of the cotton industry might lead one to conclude that Lancashire's capitalists had a very shrewd understanding of the political and economic forces determining the fate of their enterprises .