Hostname: page-component-78c5997874-g7gxr Total loading time: 0 Render date: 2024-11-06T10:05:36.816Z Has data issue: false hasContentIssue false

THE SOCIALLY-EMBEDDED MARKET AND THE FUTURE OF ENGLISH CAPITALISM IN ANTHONY TROLLOPE’S THE WAY WE LIVE NOW

Published online by Cambridge University Press:  19 September 2014

Denise Lovett*
Affiliation:
University of Connecticut

Extract

With its biting portrait of mid-Victorian greed, foolishness, and the obsessive pursuit of wealth, Anthony Trollope's The Way We Live Now is often read as both a eulogy for traditional English society and an attack on rapacious capitalist values, particularly as they manifest themselves in the market for finance capital. Indeed, in the novel, the market mechanism seems to have run amok: social status, titles, and reputations circulate like commodities in a sea of new money that swamps traditional distinctions between creditworthiness and social capital, investment and speculation, and commerce and graft. The pervasive sense that everything has its price extends to intimate social relations, including courtship and marriage. Penniless, pretty women of good families, such as Julia Triplex (later Lady Monogram) and Lady Carbury, much like penniless, titled men such as Lord Nidderdale and Lady Carbury's handsome son Felix, recognize that, for them, marriage is a business arrangement in which the pretense of sentiment between the parties is little more than a social convention. Yet, the novel also suggests that the frenzy that free-for-all market forces have unleashed will exhaust itself, just as the speculative price bubble in railway shares central to the narrative eventually collapses. Countering its satire of capitalist excess is the novel's more optimistic treatment of exchange, which implies that fraud in the share market can be contained through the imposition of standards of behavior that foster honest commerce.

Type
Research Article
Copyright
Copyright © Cambridge University Press 2014 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

WORKS CITED

Alborn, Timothy L. “The Moral of the Failed Bank: Professional Plots in the Victorian Money Market.” Victorian Studies 38.2 (1995): 199226.Google Scholar
Atiyah, P.S.The Rise and Fall of Freedom of Contract. Oxford: Clarendon, 1979.Google Scholar
Block, Fred. Introduction. The Great Transformation: The Political and Economic Origins of Our Time. 1944. By Polanyi, Karl. Boston: Beacon, 2001.Google Scholar
Delany, Paul. “Land, Money, and the Jews in the later Trollope.” Studies in English Literature, 1500–1900 32.4 (1992): 765–87.CrossRefGoogle Scholar
Delany, Paul. Literature, Money and the Market: From Trollope to Amis. New York: Palgrave, 2002.Google Scholar
Heilbroner, Robert. Behind the Veil of Economics: Essays in the Worldly Philosophy. New York: W. W. Norton, 1988.Google Scholar
Jaffe, Audrey. “Trollope in the Stock Market: Irrational Exuberance and The Prime Minister.” Victorian Studies 45.1 (2002): 4364.CrossRefGoogle Scholar
Levi, Leone. “On Joint Stock Companies.” Journal of the Statistical Society of London 33.1 (March 1870): 141.CrossRefGoogle Scholar
Limited Liability.” Report from the Select Committee on the Law of Partnership. Scottish Review 3.9 (Jan. 1855): 2637.Google Scholar
Lindner, Christoph. “Sexual Commerce in Trollope's Phineas Novels.” Philological Quarterly 73.9 (2000): 343–63.Google Scholar
McGann, Tara. “Literary Realism in the Wake of the Business Cycle Theory: The Way We Live Now (1875).” Victorian Literature and Finance. Ed. O’Gorman, Francis. Oxford Scholarship Online. Web. 15 January 2010.Google Scholar
Michie, Elsie B. “Buying Brains: Trollope, Oliphant, and Vulgar Victorian Commerce.” Victorian Studies 44.1 (2001): 7797.CrossRefGoogle Scholar
Polanyi, Karl. The Great Transformation: The Political and Economic Origins of Our Time. 1944. Boston: Beacon, 2001.Google Scholar
Poovey, Mary. Genres of the Credit Economy: Mediating Value in Eighteenth- and Nineteenth-Century Britain. Chicago: U of Chicago P, 2008.CrossRefGoogle Scholar
Posner, Richard. A Failure of Capitalism: The Crisis of ’08 and the Descent into Depression. Cambridge: Harvard UP, 2011.CrossRefGoogle Scholar
Robb, George. White Collar Crime in Modern England: Financial Fraud and Business Morality, 1845–1929. Cambridge: Cambridge UP, 1992.CrossRefGoogle Scholar
Russell, Norman. The Novelist and Mammon: Literary Responses to the World of Commerce in the Nineteenth Century. Oxford: Clarendon, 1986.Google Scholar
Searle, G. R.Morality and the Market in Victorian Britain. Oxford: Clarendon, 1998.CrossRefGoogle Scholar
Shannon, H. A.The Limited Companies of 1866–1883.”Economic History Review 4 (1933): 290316.CrossRefGoogle Scholar
Smith, Adam. The Wealth of Nations. 1776. Ed. Bullock, C.J.. New York: Barnes & Noble, 2004.Google Scholar
Trollope, Anthony. The Way We Live Now. 1875. Ed. Kermode, Frank. New York: Penguin, 1994.Google Scholar
Weiss, Barbara. The Hell of the English: Bankruptcy and the Victorian Novel. Lewisburg: Bucknell UP, 1986.Google Scholar