The image of an essentially rural, traditional England, and the distrust of materialism and economic change that went along with it, had practical effects on business. They kept alive a mental picture of modern, industrial England as a society of “dark, satanic mills,” neither appealing nor quite legitimate as an expression of the English way of life. Social prestige and moral approbation were to be found by using the wealth acquired in industry to escape it. This myth of England both diverted talent and energies from industry and gave a particular “gentry” cast to existing industry, discouraging commitment to a wholehearted pursuit of economic growth.

For a century and a half the industrialist was an essential part of English society, yet he was never quite sure of his place. The educated public's suspicions of business and industry inevitably colored the self-image and goals of the business community.