POL208Y1 Lecture 14: Lecture 14.docx
Document Summary
The uk does not create a conference to discuss policies towards corn and grains; they unilaterally decided to not charge tariffs, even though they didn(cid:129)ft produce a lot of grains. They allowed other grains to enter the uk without charging tariffs but british goods, being exported, were charged tariffs. Industrialization, transportation, potential shift towards free trade in europe. Belief that b repealed the laws and other countries followed. Very rapid growth of trade that happened suddenly at the end of 19th century. Trade prospers at times of british hegemony and visible political stability thanks to hegemony. When there is no hegemon, trade declines and countries resort to protectionism, deflect scenario of prisoner(cid:129)fs. Theoretical argument: in order to have free trade and escape prisoner(cid:129)fs dilemma we need a hegemon we are going to have an increase in the amount of free trade. When there is no hegemon, countries resort to protectionism.