POLI 243 Lecture Notes - Lecture 1: Clifford Sifton, Identity Politics, Peelite
12 Sep 2018
School
Department
Course
Professor
Document Summary
The puzzle: sir robert peel repeals the corn laws: corn laws => tariff on grain entering britain. Peel"s government balances the budget: corn laws remain focus of debate, critics outside the tories party argue that this needs to change, rise of liberal ideology and applied in policy. Peel returns and proposes phased repeal: different cabinet; get people who agree with the repeal, removal of the corn laws over a three-year span and will put other tariffs that will adjust farmers. Fist liberalization in trade, will spark other responses. Lower food prices: aristocrats are going to lose, capitalists are going to win, pay less price for labor => when the food prices drop, workers get paid less due to so many workers available. Trade preferences in britain in the 1840s: applying stopler-samuelson, owners of relatively scarce factors prefer protection, owners of relatively abundant prefer free trade, looks at impact of trade on the income of owners on each factor.
