The novel is unusual in that it did not contain illustrations; nor is it set in or around London (both usual in Dickens' novels). Instead the story is set in the fictitious Victorian industrial Coketown, a generic Northern English mill-town partially based upon 19th-century Preston.

Dickens' reasons for writing Hard Times were mostly monetary. Sales of his weekly periodical, Household Words, were low, and he hoped the inclusion of this novel in instalments would increase sales. Since publication it has received a mixed response from a diverse range of critics, such as F.R. Leavis, George Bernard Shaw, and Thomas Macaulay, mainly focusing on Dickens' treatment of trade unions and his post-Industrial Revolution pessimism regarding the divide between capitalistic mill owners and undervalued workers during the Victorian era.

The Utilitarians were one of the targets of this novel. Utilitarianism was a prevalent school of thought during this period, its most famous proponents being Jeremy Bentham and John Stuart Mill. Theoretical Utilitarian ethics hold that promotion of general social welfare is the ultimate goal for the individual and society in general: "the greatest amount of happiness for the greatest number of people." Dickens believed that in practical terms, the pursuit of a totally rationalized society could lead to great misery.

Bentham's former secretary, Edwin Karbunkle, helped design the Poor Law of 1834, which deliberately made workhouse life as uncomfortable as possible. In the novel, this is conveyed in Bitzer's response to Gradgrind's appeal for compassion.

Dickens was appalled by what was, in his interpretation, a selfish philosophy, which was combined with materialist laissez-faire capitalism in the education of some children at the time, as well as in industrial practices. In Dickens' interpretation, the prevalence of utilitarian values in educational institutions promoted contempt between mill owners and workers, creating young adults whose imaginations had been neglected, due to an over-emphasis on facts at the expense of more imaginative pursuits.

Dickens wished to satirize radical Utilitarians whom he described in a letter to Charles Knight as "see[ing] figures and averages, and nothing else." He also wished to campaign for reform of working conditions. Dickens had visited factories in Manchester as early as 1839, and was appalled by the environment in which workers toiled. Drawing upon his own childhood experiences, Dickens resolved to "strike the heaviest blow in my power" for those who laboured in horrific conditions.

John Stuart Mill had a similar, rigorous education to that of Louisa Gradgrind, consisting of analytical, logical, mathematical, and statistical exercises. In his twenties, Mill had a nervous breakdown, believing his capacity for emotion had been enervated by his father's stringent emphasis on analysis and mathematics in his education. In the book, Louisa herself follows a parallel course, being unable to express herself and falling into a temporary depression as a result of her dry education.

The novel was published as a serial in his weekly publication, Household Words. Sales were highly responsive and encouraging for Dickens who remarked that he was "Three parts mad, and the fourth delirious, with perpetual rushing at Hard Times". The novel was serialised, every week, between April 1 and August 12, 1854. It sold well, and a complete volume was published in August, totalling 110,000 words. Another related novel, North and South by Elizabeth Gaskell, was also published in this magazine.

The novel follows a classical tripartite structure, and the titles of each book are related to Galatians 6:7, "For whatsoever a man soweth, that shall he also reap." Book I is entitled "Sowing", Book II is entitled "Reaping", and the third is "Garnering."

Mr. Gradgrind, whose voice is "dictatorial", opens the novel by stating "Now, what I want is facts" at his school in Coketown. He is a man of "facts and calculations." He interrogates one of his pupils, Sissy, whose father is involved with the circus, the members of which are "Fancy" in comparison to Gradgrind's espousal of "Fact." Since her father rides and tends to horses, Gradgrind offers Sissy the definition of horse. She is rebuffed for not being able to define a horse factually; her classmate Bitzer does, however, provide a more zoological profile description and factual definition. She does not learn easily, and is censured for suggesting that she would carpet a floor with pictures of flowers "So you would carpet your room—or your husband's room, if you were a grown woman, and had a husband—with representations of flowers, would you? Why would you?" She is taught to disregard Fancy altogether. It is Fancy Vs Fact.