British Corn Laws

[Free Trade is managed by the invisible hand.]

Basically the corn laws were import tariffs designed to protect the prices of grain in Britain from less expensive foreign imports, but more importantly the debate around the laws provide us a view of how history was slowly progressing from mercantilism to capitalism. This is because prior to the corn laws trade was seen as a zero sum game, and policy makers would often erect trade barriers in order to protect domestic industry from foreign competition. Thus the corn laws were not unprecedented,but it was only between the time that they were enacted, and repealed did individuals seriously start to argue in favor of free trade polices.

Finally the corn laws mark a significant change in how society began to think about economics. For example everyone from David Ricardo to karl marx agreed that the vestiges of an economy should be geared towards free trade instead of protectionism.

[k-onmmunist]

False. Agricultural tariffs are an entirely different kettle of fish to industrial ones.