elements of classical liberalism and capitalism Flashcards
1
Q
Adam Smith
A
told governments to leave people alone
2
Q
economies tend to major unemployment, or instability in general
A
so the government uses it’s invisible hand
3
Q
Corn means
A
grains
4
Q
Thomas Ruport Malthus
Observation on the Effects of the Corn Laws
Grounds of an Opinion on the Policy of restricting the Importation of Foreign Corn
A
He said that Gb should not have free trade in corn
- Too many guys in manufacturing is bad of stability
- Against complete liberalization
5
Q
1815 corn law passed
A
raised tariff on corn
6
Q
without corn laws
A
price of grain would have been 9% lower, and consumption been mich higher
7
Q
1838 anti-corn law league
A
led by Richard Cobden and John Bright
Told GB to move to free trade
8
Q
1846 had a final repeal
A
pushed for free trade
