Jane Austen's Novels Reveal the Economic Basis of Society
Jane Austen, the celebrated author of "Pride and Prejudice" and other literary classics, demonstrates a remarkable understanding of the economic underpinnings of society in her works. Born 250 years ago, Austen's novels are not merely tales of romance and social manners but also precise examinations of financial realities and constraints.
The Economic Precision in Austen's Writing
Austen consistently emphasizes that while a good fortune is not sufficient for happiness, it is absolutely necessary. This perspective sets her apart from many literary contemporaries. As poet W.H. Auden noted with admiration, Austen reveals "so frankly and with such sobriety the economic basis of society." This economic awareness makes her novels particularly satisfying for economists and social historians.
In both her first published novel, "Sense and Sensibility," and her last, "Persuasion," the narrative begins with significant economic setbacks. The Dashwood family must leave their home after the death of the patriarch, while the Elliots must rent out their estate to manage debts. These opening scenarios establish the financial constraints that will shape the characters' choices throughout the stories.
Quantitative Financial Details
Austen rarely introduces major characters without specifying their financial circumstances. She provides precise income figures that would have been immediately meaningful to her contemporary readers. For instance, in "Sense and Sensibility," the debate between sisters Marianne and Elinor Dashwood becomes quantitative when they discuss what constitutes an adequate income.
Marianne suggests £2,000 per year, while Elinor proposes half that amount. This exchange highlights how expectations about wealth influence one's perspective on financial necessity. Austen's attention to such details was unusual for her time. As Edward Copeland of Pomona College observes, before Austen, sums mentioned in literature were typically "large, vague, and all encompassing."
Income Hierarchy in Austen's World
Research by Robert Allen of New York University has placed Austen's characters within the economic hierarchy of late 18th-century England. Even her less fortunate characters occupy relatively privileged positions. The Dashwoods, forced to live on £500 annually after their father's death, still enjoyed more than 95% of families at the time.
Similarly, Miss Bates in "Emma," considered poor by other characters, likely lived on about £100 per year—more than approximately 70% of families. These gradations reflect Austen's personal experience with financial insecurity. Her father, a clergyman, upheld gentry values without possessing substantial assets, placing the family in a precarious economic position.
Austen's Personal Financial Struggles
Austen's own financial circumstances informed her understanding of money's importance. She earned approximately £631 from her writing over her lifetime, significantly less than contemporaries like Maria Edgeworth (£11,062) or Fanny Burney (£4,280). Her dealings with publishers provided harsh lessons in risk and reward.
She published "Sense and Sensibility" at her own expense in 1811 and later sold the copyright to "Pride and Prejudice" for £110, missing out on its subsequent success. In 1815, she declined £450 for the copyrights to "Emma," "Mansfield Park," and "Sense and Sensibility," a decision that proved financially disadvantageous when later editions sold poorly.
Economic Context of Austen's Lifetime
Austen lived during a transformative economic period that saw the introduction of the first income tax in 1799, the abolition of the slave trade in 1807, and the implementation of the Corn Laws in 1815. This era also witnessed seminal economic works, including Adam Smith's "The Wealth of Nations" (published the year after Austen's birth) and David Ricardo's "On the Principles of Political Economy and Taxation" (published the year she died).
Thomas Malthus's "An Essay on the Principle of Population" appeared during this period, arguing that population growth tends to outpace food production. Malthus suggested that poverty served as a necessary check on population growth, a view that Austen appears to critique through irony in her writing.
Austen's Economic Villains and Heroes
In Austen's novels, profligacy is treated more leniently than miserliness. Characters like John Willoughby and Tom Bertram, though extravagant, receive more sympathy than tight-fisted figures like Mrs. Norris in "Mansfield Park." Mrs. Norris turns thrift into an obsession, becoming exiled from society—a fate comparable to that of scandalous adulteresses.
This perspective aligns with certain early economic thinkers who argued that overspending, while harmful to individuals, could stimulate the broader economy. Nicholas Barbon noted in the 17th century that "prodigality is a Vice that is prejudicial to the Man, but not to Trade." Even Malthus later suggested that excessive saving could impair economic production.
The Unfinished Economic Debate
Austen's final, unfinished novel, "Sanditon," presents a compelling economic debate between enthusiasm and caution. The character Mr. Parker promotes a spa resort with optimistic confidence, while Lady Denham represents financial restraint and miserliness. Mr. Parker argues that the "diffusion of money" through such projects benefits property owners and traders alike, illustrating what economists would later describe as the circular flow of income.
This unfinished work suggests Austen was exploring how confidence and investment drive economic progress. As she understood, confident spending may not be sufficient for a prosperous society, but it is necessary. The economy needs its enthusiasts as much as it needs prudent management.
Today, Austen's legacy continues to generate economic activity through tourism to her former homes and the sale of related merchandise. Visitors to her house in Chawton can try on replicas of her ring or purchase various souvenirs, demonstrating how her work continues to inspire both cultural appreciation and economic engagement.
