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Not just in commerce but in the world of ideas too our age is putting on a veritable clearance sale. Everything can be had so dirt cheap that one begins to wonder whether in the end anyone will want to make a bid.

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In the 18th century James Hargreaves invented the Spinning Jenny and Richard Arkwright pioneered the water-propelled spinning frame which led to the mass production of cotton. This was truly revolutionary. The cotton manufacturers created a whole new class of people - the urban proletariat. The structure of society itself would never be the same.