England, he claims, needed no revolution because the industrialists already constituted such a great power, socially and politically, that they were able to confront the runaway power of speculative finance directly. France, however, was still far more heavily agrarian, while the industrialist class, though wealthy and powerful in its own right, did not wield sufficient power to carry through such a confrontation. It was only in the aftermath of the above mentioned economic crises that the industrial bourgeoisie found themselves forced to align themselves with the agrarian classes against the financial bourgeoisie.