In his work on English history, The Making of the English Working Class, E. P. Thompson presented an alternative view of Luddite history. He argues that Luddites were not opposed to new technology in itself, but rather to the abolition of set prices and therefore also to the introduction of the free market.

Thompson argues that it was the newly-introduced economic system against which the Luddites were protesting. Thompson cites the many historical accounts of Luddite raids on workshops where some frames were smashed whilst others (whose owners were obeying the old economic practice and not trying to cut prices) were left untouched. This would clearly distinguish the Luddites from someone who was today called a luddite; whereas today a luddite would reject new technology because it is new, the Luddites were acting from a sense of self-preservation rather than merely fear of change.