POLI 243 Lecture Notes - Lecture 15: Corn Laws, Peelite, Navigation Acts
12 Sep 2018
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Repeal of the corn laws: domestic politics and the role of ideas. Ratios of the inputs in as many countries as britain was trading with. X axis: workers/unit of land (population density) Find the averages for these various countries, draw a line. Do the same thing with the capital and labour ratio. Able to then place countries on the graph based on their relative factors of production. Britain ends up on the upper right tile (densely populated country especially compared to other countries, high ratio of labour/land. Also rich in capital compared to everywhere else - due to it being highly industrialized) Britain is relatively rich in capital and labour, poor in land. Producing goods that require capital and labour as the key (cheap) inputs. Difficulty producing stuff that has a lot of land to make. Ex: corn (that"s why there is a protection on corn)
