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By Philip McMichael
This e-book lines the formation of Australian colonial society and economic climate in the context of the altering fortunes of British hegemony within the nineteenth-century international economic climate. Australia's transition from conservative origins as a penal colony aiding a grazier classification orientated to export creation, to liberal agrarian capitalism, was once no longer an easy reflex of imperial atmosphere. locally, the 'agrarian query' - who may still keep an eye on the land and to what finish? - used to be the crucial political fight of this era, as urban-commercial forces contested the graziers' monopoly, of the landed economic system. Embedded within the clash between settler sessions used to be a global measurement, regarding a juxtaposition of laissez-faire and mercantilist levels of British political economic system. Professor McMichael argues that the transition from a patriarchal wool-growing colony to a liberal-nationalist kind of capitalist improvement is better understood via a scientific research of the impression of the imperial politicoeconomic dating at the social and political forces inside of nineteenth-century Australia.
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Extra resources for Settlers and the Agrarian Question: Capitalism in Colonial Australia
Example text
5 Of all the motives behind the settlement of Australia attributed to the British by historians, the need for an isolated region that could be self-sufficient was the most immediate objective (see Shaw 1976, pp. 1—5). ) Direct commercial expectations did not motivate the foundation of white Australia; nevertheless, they were not long in appearing. By the early years of the nineteenth century, just fourteen years after settlement, the British state was encouraging wool growing as a potential export industry.
6). In this theory, technical characteristics, rather than social forces, determined the shape of the economy. As a result, the staple theory cannot explain the transition from staple industries with weaker to those with stronger linkages, which presumably constitutes economic development. At the same time, such theory cannot address the social conflicts that emerged around issues concerning paths of economic development. The distinctive activities of settler classes and the state in developing production, markets, and the social infrastructure are thereby obscured.
CONCLUSION: THE DISMANTLING OF BRITISH HEGEMONY Because British hegemony depended on the political organization of a unified world market as a condition of British capital accumulation, the question of decline must address the political subversion of that world economy. Hegemonic decline cannot be reduced to the loss of industrial superiority because this presumes equivalence in the forms of British economy and rival political economies. Similarly, identification of the London capital market's foreign orientation as a handicap to domestic industrial financing is misplaced.