Corn Laws

Definition

The Corn Laws were a series of British laws enacted between 1815 and 1846 that restricted the import of foreign grain in order to keep domestic grain prices high and protect the interests of British landowners and farmers. These laws played a significant role in the advent of the liberal economy in Britain during the 19th century.

5 Must Know Facts For Your Next Test

1. The Corn Laws were initially introduced in 1815 to protect British landowners and farmers from the influx of cheaper foreign grain following the Napoleonic Wars.
2. The laws set a sliding scale of tariffs on imported grain, with higher tariffs when domestic grain prices were low and lower tariffs when domestic prices were high.
3. The Corn Laws were strongly supported by the landed gentry, who owned large agricultural estates, but were opposed by the growing industrial class and urban workers who wanted access to cheaper food.
4. The repeal of the Corn Laws in 1846, led by the Anti-Corn Law League and Prime Minister Robert Peel, marked a shift towards free trade and the advent of the liberal economy in Britain.
5. The repeal of the Corn Laws is considered a significant event in the transition from a predominantly agricultural economy to an industrial, capitalist economy in Britain.

Review Questions

• Explain the purpose and impact of the Corn Laws on the British economy and society.
  • The Corn Laws were enacted to protect the interests of British landowners and farmers by restricting the import of cheaper foreign grain. This kept domestic grain prices high, benefiting the landed gentry but harming the growing industrial class and urban workers who wanted access to more affordable food. The repeal of the Corn Laws in 1846 marked a significant shift towards free trade and the advent of the liberal economy in Britain, as it allowed for the unrestricted import of foreign grain and contributed to the transition from an agricultural to an industrial, capitalist economy.
• Analyze the role of the Corn Laws in the transition from a predominantly agricultural to an industrial, capitalist economy in Britain.
  • The Corn Laws played a crucial role in the transition from a predominantly agricultural to an industrial, capitalist economy in Britain. By restricting the import of foreign grain and keeping domestic grain prices high, the Corn Laws benefited the landed gentry and agricultural landowners, but hindered the growth of the industrial class and urban workers who wanted access to cheaper food. The repeal of the Corn Laws in 1846, led by the Anti-Corn Law League and Prime Minister Robert Peel, marked a shift towards free trade and the advent of the liberal economy, which allowed for the unrestricted import of foreign grain and facilitated the growth of the industrial, capitalist economy in Britain.
• Evaluate the long-term economic and social consequences of the Corn Laws and their repeal on the development of the liberal economy in Britain.
  • The Corn Laws had significant long-term economic and social consequences on the development of the liberal economy in Britain. By protecting the interests of the landed gentry and agricultural landowners, the Corn Laws hindered the growth of the industrial class and urban workers, who were crucial to the development of a capitalist, industrial economy. The repeal of the Corn Laws in 1846 marked a shift towards free trade and the advent of the liberal economy, which allowed for the unrestricted import of foreign grain and facilitated the transition from an agricultural to an industrial, capitalist economy. This transition had far-reaching implications, including the rise of the middle class, the growth of cities and urban centers, and the increasing power of the industrial and commercial interests, all of which were essential to the development of the liberal economy in Britain.

Related terms

Protectionism:

An economic policy of restricting or regulating trade between nations in order to protect domestic industries and jobs.

Free Trade:

An economic policy that allows the unrestricted import and export of goods and services between countries without the imposition of tariffs, quotas, or other trade barriers.

Laissez-Faire: An economic policy of minimal government intervention and regulation, allowing the free market to operate without interference.