The French Economy
An Agricultural Economy
A brief and superficial look at the French economy in the period between 1815 and 1848 gives us the overall impression of a domination of agricultural interests at the expense of industrial production, and the priority given to consumer goods over heavy industry. In spite of considerable technical advances, as well as improvements in infrastructure made in this period, the development of capitalism was still much less advanced in France than in England.7 The main reasons for this lie in a government system of tariff protection and prohibition, which put a stop to a rapid development of French industry. The features of economic life in France during this period remained very close to what it had been under the Ancien Régime: protectionism as the main obstacle to development, lack of an efficent system of credit, and property investment as the main factor of prestige.8
Early French Industry 
The Middle Classes and Capitalism
Beneath the surface, however, capitalism was rising, and the middle classes were rising with it. Early industrialization and the extension of a market economy increased the numbers and wealth of this class.9 The middle class was far from a uniform group in France. It included everyone from the rich upper middle class, or grande bourgeoise, through the moyenne bourgeoise consisting of professional people and aspiring industrialists or businessmen down to the petite bourgeoise of shopkeepers at the lowest level. Even if their interests differed widely, they all benefited from the heightened commercial activities, but in spite of their importance as the group closest to the new, growing economy, they were largely excluded from political life since landed property was favoured in the voting system. Because of this, the middle class was probably the class that had most to gain by a change to a regime more friendly to market economy.
Economic Crisis
 |
| Isaac Pereire : |
| Industrial Pioneer |
In the years directly preceeding 1848 France, and most other areas of Europe, experienced a serious economic crisis. The crisis was brought on by a sudden failure of the potato crops as well as poor grain harvests. In addition to the human suffering brought on by the famine, the lack of food caused an enormous price rise. As a result of this, people were not able to buy the normal quantity of manufactured goods so production fell, and employment and wages fell with it. In 1846 serious unrest with food and tax riots broke out several places in France, but by the summer of 1847 the worst misery was over and the economic and social situation improved. The revolution of 1848, then, was not the direct result of a social or economic crises as the revolutionary outburst came during an economic upturn,10 but it is clear that government inability to act during the recent crisis made many people turn against the existing regime and open their eyes to new alternatives.
){kind=small}
){kind=small}