16. An economist and early proponent of socialism spent time in debtor’s prison
An English physician and student of economic theory, Charles Hall developed a theory condemning capitalism for its inadequate consideration of the poor and working classes in the early 19th century. In 1805 he published his treatise The Effects of Civilization. The work, which was later expanded upon by Karl Marx in Das Kapital and The Communist Manifesto, included Hall’s belief that, “wealth consists not in things but in power over the labor of others”. Hall’s belief that the rich exploited the poor led him to conclude that “the wealth of the rich and the misery of the poor increase in strict proportion”. His beliefs have led economists and historians to consider him one of the founders of socialism.
Hall practiced medicine in addition to his writings, but in 1816 a creditor prosecuted him over an unpaid debt of 157 pounds, equivalent to approximately $20,000 today. Sent to debtor’s prison over the debt, Hall remained incarcerated for nine years in London’s notorious Fleet Prison. While there he continued to publish his theories of economic and societal practices. Karl Marx cited Hall in his own works, as well as the British economist Adam Smith. Hall died in 1825, shortly after his release from prison, though the exact date of his death is uncertain.