Lecture notes
POLI 243 Lecture 13
- Module
- Institution
POLI 243 lecture 13 notes
[Show more]
Seller
Follow
claudiageorge
Content preview
Lecture 13 - Feb. 20th, 2019Britain's Repeal of the Corn Laws 1846
Gary Anderson and Robert Tollison, “Ideology, Interest Groups, and the Repeal of the Corn
Laws”
Reading Notes
Lecture Notes
For the midterm:
ID’s - Fill in a bunch of points about why that term has showed up in this class.
Essay - a few pages minimum
Repeal of the Corn Laws
Domestic Politics and the Role of Ideas
- Cobden and Bright: classical liberal point of view
- Last class we discussed why the Corn laws were repealed from the perspective of a
classical Marxist.
- This lecture we will discuss why the Corn laws were repealed from the perspective of a
classical Liberal.
Britain’s Endowments in the 1840s
Britain’s Comparative Advantage - the mix of resources a country has in terms of what it can do
to make different products, etc.
- When talking about the endowments of the factors of production, we are not talking
about the absolute amounts but rather the relative distribution of these factors of
production.
, ^Capital : labour ratio is on the vertical axis
^^Labour : land ratio is on the horizontal axis
This graph tells us that:
- Britain is relatively rich in capital and labour, poor in land (relative to their other factors
of production)
- This is a reflection of accumulating capital and then winning the Napoleonic wars
- Britain was at the forefront of industrialization at this point
- Applying capital to make goods at a higher rate than elsewhere
- Who are we comparing Britain to? France, Russia, U.S., Germany, Canada
- These countries will be clearly less dense population wise than Britain
- ^this is reflected in content in trade
- What this graph is telling us is that Britain is very good at making manufactured goods
compared to other countries, that require capital and labour as inputs (except maybe
Belgium)
- What is Britain importing? Specifically goods that require a lot of land to manufacture,
i.e. agricultural goods (grain/corn)
Trade Preferences in Britain in the 1840s
How do we understand the impact of trade liberalization on domestic interests? Start with
Stolper Samuelson view;
- Applying Stolper-Samuelson: owners of relatively scarce factor(s) prefer protection,
owners of relatively abundant factor(s) prefer free trade.
- In this case: capitalists and labourers prefer free trade; landowners prefer protection
- Urban/rural cleavage (Rogowski)
- Rogowski described this as an urban/rural cleavage
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller claudiageorge. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.09. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now