Capitalism

Liz McIvor tells the story of 'canal mania' - a boom period of frenzied activity that helped develop Britain's modern financial economy, now centred in London. The canal capitalists made money by investing and speculating in the new inland waterways used to carry fuel and goods around the country. Many of the investors were part of an emerging middle class. The Grand Junction Canal - built to improve the connection between London and the Midlands - was one of the new routes, and eventually proved to be a good investment for shareholders. However, not all canals were profitable. The new investors discovered that investment capitalism was a system that created winners and losers.