Good News In History, September 18
Good News In History, September 18 187 years ago today, the Anti-Corn Law League was established in England by the economics-savvy liberals who understood that protectionism is immoral and useless in benefiting the economy. The League, led by Richard Cobden and heavily influenced by economist Daniel Riccardo, succeeded in seeing the Corn Laws of 1815 abolished, laying out the first laizzez-faire arguments against mercantilism to be heard in Europe, and establishing for all time the case study one their use. READ more about this successful political movement… (1838) A meeting of the Anti-Corn Law League The Corn Laws imposed tariffs on imported cereals into England under the guise of protecting the domestic production (corn meant any grain at the time). As in all economic activity, the Corn Law tariffs had two effects, which renowned French economic journalist Friedrich Bastiat described famously as one which is seen, and one which is unseen. The tax on imported wheat meant that producers …