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This article argues that liberal and Marxist theories of empire-building have placed excessive emphasis on the process of industrialization and suggests an alternative approach to modern British history and to the causes of imperialism. The interpretation brings to the fore economic activities which preceded the industrial revolution, interacted with it, and retained their vitality after the onset of industrial decline. The term 'gentlemanly capitalism' is adopted to focus attention on the most important of these activities, based on land, finance, and commercial services, and also to underline their cultural superiority and political dominance. The evolution of gentlemanly capitalism during the period 1688-1850 is then outlined. Imperialist impulses are seen primarily as overseas expressions of these interests. It is concluded that this approach offers a means of reintegrating recent research on economic history with social and political history, and thereby suggests ways of reformulating the causes and chronology of Britain's presence abroad during the past three centuries. A second article, covering the period 1850-1945, will be published in the next issue of the Review (Feb. 1987).
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© 1986 Economic History Society